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Bitcoin

Old Bitcoin

<ul class="news-points"> 
 <li><strong>Old Bitcoin whales’ are selling to new institutional players, reshaping market dynamics.</strong></li> 
 <li><strong>Bitcoin may surge 10% to $77K if it holds above the $70K threshold.</strong></li> 
 <li><strong>BTC’s 24-hour trading volume has spiked by 25%, reaching $42.392 billion.</strong></li> 
</ul> 
<p>The market activity of Bitcoin has drawn attention as the changes in ownership patterns have become evident. On-chain data reveals that old established <a href="https://coinedition.com/bitcoin-whales-buys-over-100k-btc-amid-price-drop/">Bitcoin holders</a>, known as ‘old whales,’ are transferring their Bitcoins to new institutional investors, implying a shift in market dynamics.</p> 
<p>Notably, this movement of Bitcoin is happening between these large-scale holders, known as ‘whales,’ and not spreading widely among retail investors. On the same accord, a chart from analyst Axel Adler Jr., shared by Ki Young Ju, CEO of CryptoQuant, captures the shifting dynamics between investor classes.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Old whales are selling <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> to new whales(TradFi), not retail investors. This can be clearly observed on-chain.<br><br>Chart by <a href="https://twitter.com/AxelAdlerJr?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@AxelAdlerJr</a> <a href="https://t.co/L8tWWvcmfb" target="_blank" rel="nofollow">pic.twitter.com/L8tWWvcmfb</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1773238889525702991?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">March 28, 2024</a>
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</figure> 
<p>The chart specifically compares the supply and demand trends of new versus established Bitcoin investors over an extended period…</p>
<p>The post <a href="https://coinedition.com/bitcoin-old-guard-paves-way-for-new-whales-as-prices-surge-over-70k/">Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70K</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70K

Coin Edition

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