Bitcoin Whales Accumulating Trend in 2024

At the beginning of 2024, institutional interest in Bitcoin was observed to increase following the approval of spot Bitcoin ETFs in the US. Bitcoin has gained a value of 53% since the beginning of the year, and the accumulation trend of whales indicates that the value gain may continue. Whales and Bitcoin Accumulation Movement In the first quarter of 2024, large Bitcoin whales accumulated 319,310 BTC. This movement accounts for approximately 1.4% of the total Bitcoin supply. Small whale level investors, on the other hand, experienced a decrease of 0.7%, leaving 105,260 BTC. However, the general trend among investors continues to be accumulation of Bitcoin, indicating confidence in Bitcoin and the expectation of future price increases. Bitcoin Price and Bullish Signals The cryptocurrency world is preparing for the fourth block reward halving that will halve Bitcoin mining rewards. This event, while increasing the uncertainty about Bitcoin price movements, is influenced […]

Bitcoin Whales Accumulating Trend in 2024

At the beginning of 2024, institutional interest in Bitcoin was observed to increase following the approval of spot Bitcoin ETFs in the US. Bitcoin has gained a value of 53% since the beginning of the year, and the accumulation trend of whales indicates that the value gain may continue.

Whales and Bitcoin Accumulation Movement

In the first quarter of 2024, large Bitcoin whales accumulated 319,310 BTC. This movement accounts for approximately 1.4% of the total Bitcoin supply. Small whale level investors, on the other hand, experienced a decrease of 0.7%, leaving 105,260 BTC.

However, the general trend among investors continues to be accumulation of Bitcoin, indicating confidence in Bitcoin and the expectation of future price increases.

Bitcoin Price and Bullish Signals

The cryptocurrency world is preparing for the fourth block reward halving that will halve Bitcoin mining rewards. This event, while increasing the uncertainty about Bitcoin price movements, is influenced by fundamental factors that shape market sentiment.

Companies such as QCP Capital are detecting an increasing bullish trend around Bitcoin. A significant spot ETF entry and buying activities in the options market support this optimism. The narrative of decreasing leverage ratios and the positive impact of the block reward halving on market sentiment also contribute to the bullish outlook.

Useful Information for Readers

Bitcoin whales accumulated 319,310 BTC in the first quarter of 2024, which corresponds to approximately 1.4% of the total supply.
Investors generally continue to accumulate Bitcoin, demonstrating confidence in Bitcoin’s long-term value.
Bitcoin’s block reward halving emerges as a significant factor influencing market sentiment and investor behavior.
The bullish trend around Bitcoin is supported by ETF entries and buying activities in the options market.
The narrative of decreasing leverage ratios and the positive impact of the block reward halving contribute to the overall bullish outlook for Bitcoin.

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