Bitcoin

April

<p>The world’s largest cryptocurrency Bitcoin (BTC) has continued to show strong volatility ahead of the much-awaited Bitcoin halving and the global macro impact. After making a move to $67,000 in the Asian trading hours on Monday, April 15, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> cracked once again all the way to $62,500. Despite this price volatility, the Bitcoin whales have continued to show confidence accumulating at every dip.</p>
<h3 id="bitcoin-whale-accumulation">Bitcoin Whale Accumulation</h3>
<p>In recent insights provided by on-chain data specialist Santiment, Bitcoin’s major stakeholders have demonstrated resilience amidst market turbulence, maintaining their positions despite volatile fluctuations that saw the leading cryptocurrency’s market value drop to as low as $61.5K over the past weekend.</p>
<p>As uncertainty looms with the impending April 19th halving, Santiment’s analysis sheds light on the behavior of significant whale groups since March 1st:</p>
<ul>
 <li>Wallets holding between 100 to 1,000 BTC have accumulated a total of 43,489 coins, amounting to approximately $2.75 billion USD.</li>
 <li>Wallets with holdings ranging from 1,000 to 10,000 BTC have accumulated 80,544 coins, valued at around $5.10 billion USD.</li>
 <li>Meanwhile, wallets containing 10,000 to 100,000 BTC have accumulated 91,732 coins, with a total value of approximately $5.80 billion USD.</li>
</ul>
<figure id="attachment_191730" aria-describedby="caption-attachment-191730" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-191730" src="https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1.jpeg" alt="" width="2637" height="1779" srcset="https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1.jpeg 2637w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-300x202.jpeg 300w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-1224x826.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-768x518.jpeg 768w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-1536x1036.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-2048x1382.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-150x101.jpeg 150w, https://coingape.com/wp-content/uploads/2024/04/Bitcoin-whale-accumulation-1-272x182.jpeg 272w" sizes="(max-width: 2637px) 100vw, 2637px">
 <figcaption id="caption-attachment-191730" class="wp-caption-text">
  Courtesy: <a href="https://twitter.com/santimentfeed/status/1780006438968209414/photo/1" target="_blank" rel="noopener noreferrer nofollow">Sanitment</a>
 </figcaption>
</figure>
<p>On the other hand, the <a href="https://coingape.com/us-market-slump-spoils-crypto-market-recovery-bitcoin-etfs-see-net-outflows/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> continue to see subdued investor demand starting the third week of April with net negative outflows. For four consecutive weeks, demand for Bitcoin ETFs has remained stagnant. However, on-chain accumulation activity remains notably active, even when excluding transactions related to ETF settlements.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF demand has stagnated for 4 weeks, yet on-chain accumulation remains very active, even when excluding ETF settlement transactions. <a href="https://t.co/PqMTzJrAym" rel="noopener noreferrer nofollow">pic.twitter.com/PqMTzJrAym</a></p>
 <p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1780050419781345413?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 16, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h3 id="btc-market-dominance-at-three-year-high">BTC Market Dominance at Three-Year High</h3>
<p>Bitcoin’s dominance in the cryptocurrency market has reached a three-year high, fueled by strong demand for US exchange-traded funds (ETFs) holding the leading digital asset.</p>
<p>As of the end of last week, Bitcoin represented nearly 55% of the total $2.4 trillion market for virtual currencies, a level not seen since April 2021, according to data from CoinMarketCap.</p>
<p>Speculators in the crypto market are eagerly anticipating the upcoming <a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin halving</a>, expected to occur around April 20, which will cut the new token supply in half. Historically, previous halving events have boosted prices, but there are increasing doubts about the likelihood of a similar outcome this time, especially as Bitcoin recently reached a historic peak.</p>
<p>The post <a href="https://coingape.com/bitcoin-whale-accumulation-continues-despite-btc-price-volatility/" rel="noopener noreferrer nofollow">Bitcoin Whale Accumulation Continues Despite BTC Price Volatility</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin Whale Accumulation Continues Despite BTC Price Volatility

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