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<p>Bitcoin fever reaches its climax among institutional investors, where old and new whales vie for the market. According to the CEO of CryptoQuant, newcomers hold significant reserves of BTC.</p>
<h2 id="h-the-bitcoin-whale-war-new-players-shake-up-the-old-guard">The Bitcoin whale war: New players shake up the old guard!</h2>
<p>The <a href="https://www.cointribune.com/en/bitcoins-explosive-adoption-unleashes-a-new-wave-of-whales/" target="_blank" rel="noopener noreferrer nofollow">hesitation of whales</a> around previous peaks, notably related to the BTC Spot ETFs and pre-halving atmosphere, now seem distant. With Bitcoin’s halving completed, the situation is becoming clearer. Ki Young Ju’s analysis underlines <strong>significant changes in bitcoin ownership</strong> among newcomers and veterans.</p>
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     <p lang="en" dir="ltr">The new whales' initial investment in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is almost twice the old whales' cumulative total. <a href="https://t.co/SU5Aiw1nJB" rel="noopener noreferrer nofollow">pic.twitter.com/SU5Aiw1nJB</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1782613796852576759?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 23, 2024</a>
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<p>The <a href="https://cryptoquant.com/analytics/query/66272a018cc20b3e3f8bca60?v=66272a028cc20b3e3f8bca61" target="_blank" rel="noopener noreferrer nofollow">data compiled by Mr. Young Ju</a> reveal <strong>a gaping gap between the new and old bitcoin holders</strong> for the year 2024. According to this crypto analyst, the gap significantly widened on April 21st, <strong>with 110 billion dollars in the hands of the former against 66.9 billion for the latter</strong>. However, the funds held by these two entities seemed identical last March 15th during the new historical records for bitcoin (66.5 billion against 66.6 billion dollars).</p> 
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<p>The data shared mid-April by Ki Young Ju, and circulated by Daily Hodl, reveal that the new Bitcoin whales have become major players, <strong>now holding 9% of the total supply</strong>, which is about 1.8 million BTC. These whales, categorized as short-term holders, have owned their coins for less than 155 days.</p>
<p>Despite a stagnation in demand for Bitcoin exchange-traded funds (ETFs) over the last few weeks, <strong>on-chain BTC accumulation remains very active</strong>. This observation suggests that even outside of ETF-related transactions, the appetite for acquiring Bitcoin remains strong, which could further influence market dynamics in the coming weeks.</p>
<h2 id="the-mysteries-of-bitcoin-whales">The mysteries of Bitcoin whales</h2>
<p>In the tumultuous ocean of cryptocurrencies, Bitcoin whales attract attention. The chart by Ki Young Ju, <a href="https://twitter.com/ki_young_ju/status/1769624429968183798" target="_blank" rel="noopener noreferrer nofollow">released parsimoniously on March 18</a>, reveals their <strong>buying habits</strong>. The old whales, long-time guardians of the flagship crypto, mingle with the newcomers, freshly arrived in the turbulent waters of BTC.</p>
<p>Since November 2022, the purchase points of these behemoths keep skyrocketing, sparking speculative fever among crypto-sphere observers.</p>
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<p>Ki Young Ju’s announcement caused a stir. Investors are wondering whether to trust the old or the new whales. The CryptoQuant founder shed some light: <strong>the new whales, coming from the traditional world of finance, are flooding in via Bitcoin ETFs</strong>.</p>
<p>Among them, familiar names: BlackRock and Fidelity Investments. Their entry point at $56,400 could well serve as a solid bulwark in the upcoming storms.</p>

What Are the New Bitcoin Whales Up to Exactly?

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