Bitcoin

The wallets holding 10 to 10K BTC are known as sharks and whales. Recently, data has garnered the attention of crypto enthusiasts as Bitcoin sharks and whales accumulated staggering quantities in 2023. Additionally, USDT sharks and whales also accumulated heavily in 2023. 
According to recent data from Santiment, an on-chain analytics firm, Bitcoin sharks and whales have accumulated a record 13.03 million Bitcoins. Similarly, this trend is observed in Tether, as the sharks and whales (wallets that hold 100k to 10 million) have also heavily accumulated, now holding a significant total of 15.03 billion coins in 2023. 
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Despite recent drops in Bitcoin’s price, there has been a notable increase in new users joining the Bitcoin network. On September 9, 2023, 717,331 new <a href="https://news.todayq.com/over-717000-new-bitcoin-addresses-created-in-a-single-day-highest-in-5-years/">Bitcoin addresses</a> were created, the highest number in five years, as reported by Todayq News on September 11, 2023. This surge reflects growing interest and participation in Bitcoin, which is a positive sign for long-term investors. 
Currently, BTC is trading near $26,990, and since mid-April, whenever the 4-hour RSI hits 73.31, the price of Bitcoin ($BTC) tends to drop. Currently, $BTC is approaching a descending resistance trendline at $27,440. If history repeats, we might see a correction to $25,200 or lower, which could be a good “buy the dip” opportunity. However, be cautious and monitor for a 4-hour candlestick closing above $27,440, as it could signal the start of a bull run. 
Although whales and sharks are taking advantage of the recent price consolidation between $25,000 and $27,400, one major news that might affect the overall crypto market is the<a href="https://news.todayq.com/crypto-regulation-could-be-delayed-by-the-upcoming-u-s-government-shutdown/"> U.S. government</a> facing a potential shutdown. This news already affects the potential decision of the SEC on the spot Bitcoin ETF, as the SEC has postponed the approval of <a href="https://news.todayq.com/sec-delays-multiple-bitcoin-etfs-including-blackrocks-amid-looming-us-government-shutdown/">several Bitcoin ETFs</a>, including one from BlackRock, due to the possibility of a U.S. government shutdown. 
However, on September 26, 2023, Bitcoin experienced its lowest trading volume (in terms of dollar value) since March 2019. This might be due to the news about the potential government shutdown. Notably, this decline coincided with the decrease in Bitcoin supply on exchanges, which had begun almost three years earlier. 
© Todayq News

Report: Bitcoin sharks and whales accumulate 13.03 million BTC in 2023

Todayq News

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