Bitcoin Cash

2024

Bitcoin

April

Billion

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According to crypto analyst Ali, <a href="https://u.today/veteran-bitcoin-whales-on-chain-antics-spark-intrigue-whos-gaining" rel="noopener noreferrer nofollow">Bitcoin whales</a>, or large BTC holders, have recently moved 21,400 BTC, valued at approximately $1.40 billion, into accumulation addresses. This significant shift in assets to long-term addresses suggests a bullish outlook among these market players.
"21,400 BTC, worth around $1.40 billion, were moved to accumulation addresses," <a href="https://twitter.com/ali_charts/status/1775797142000427338" rel="noopener noreferrer nofollow">Ali</a> wrote in a tweet accompanied by a chart showing a spike in BTC inflow to accumulation addresses. On April 1, 21,400 BTC were recorded as inflows into accumulation addresses.
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 21,400 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>, worth around $1.40 billion, were moved to accumulation addresses! <a href="https://t.co/oYhMj481g8" rel="noopener noreferrer nofollow">pic.twitter.com/oYhMj481g8</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1775797142000427338?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 4, 2024</a>
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Accumulation addresses refer to those that have seen at least two incoming non-dust transfers and have never spent funds.
The move of 21,400 BTC to accumulation addresses coincides with a period of volatility and uncertainty on the cryptocurrency market. Bitcoin declined to start the month and quarter following unexpected gains in the dollar index (DXY).
Bitcoin fell to a low of $64,500 on April 3 before recovering somewhat. BTC had risen 0.66% in the previous 24 hours to $66,133 at the time of writing.
That said, the movement of such a large volume of Bitcoin into these addresses might indicate a strategic decision by whales to hold onto their assets, anticipating future price increases.
<h2 id="bitcoin-halving-in-next-16-days">Bitcoin halving in next 16 days</h2>
April might be volatile for cryptocurrency and related equities, particularly mining stocks. Investors are anticipating the <a href="https://u.today/bitcoin-halving-could-propel-btc-price-to-280000-heres-how" rel="noopener noreferrer nofollow">Bitcoin halving</a>, which will reduce the reward, and thus earnings, of Bitcoin miners. The event may hurt miners' performance, but it has traditionally set Bitcoin up for 300% or more rallies in the following months.
According to Oklink, the current countdown to Bitcoin's halving is 16 days, with a projected date of April 20. The remaining blocks for this event that would reduce Bitcoin mining rewards from 6.25 BTC to 3.125 BTC are 2,328.
In a precursor to Bitcoin's "halving," an offshoot cryptocurrency known as Bitcoin Cash just underwent a halving event.

$1.4 Billion BTC Shifted to Whale Addresses in Mega Accumulation Spree

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