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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-activity-in-bitcoin-and-ethereum-sees-significant-increase/" data-wpel-link="internal">Whale Activity in Bitcoin and Ethereum Sees Significant Increase</a><br></p>
<p style="text-align: justify">Bitcoin (BTC), unable to surpass $64,000 last week, continues to trade under pressure. At the time of writing, Bitcoin is trading at $61,605, down 1.33%, with a <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> cap of $1.213 trillion. The selling pressure is also evident in the <a href="https://en.coin-turk.com/bitcoin-bull-market-crypto-capital-ventures-dan-gambardello-warns-community-to-stay-alert-and-think-critically/" data-wpel-link="internal">cryptocurrency market</a> overall, as Ethereum (ETH), the king of altcoins, struggles to maintain a <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> above $3,000.</p> 
<h2 style="text-align: justify" id="strong-bitcoin-whale-activity-on-the-rise-strong"><strong>Bitcoin Whale Activity on the Rise</strong></h2> 
<p style="text-align: justify">According to the latest data from on-chain data provider Santiment, while Bitcoin was trading between $61,000 and $64,000, significant whale activity was observed. Wallet addresses holding between 1,000 and 10,000 BTC collectively accumulated approximately $941 million worth of BTC. This accumulation trend points to a recovery towards the highest holding levels seen in the last two weeks.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349453" src="https://coin-turk.com/wp-content/uploads/2024/05/Ethereum-Balina-Aktivitesi-scaled.jpeg" alt="" width="2560" height="1777"></p> 
<p style="text-align: justify">Ki Young Ju, CEO of crypto data platform CryptoQuant, highlighted that the fundamentals of the Bitcoin Blockchain are strong enough to support a market cap three times its current size. According to him, with these fundamentals, the price of the largest cryptocurrency could easily rise to $265,000.</p> 
<p style="text-align: justify">Cryptocurrency analyst Rekt Capital noted in an analysis that Bitcoin is expected to slow down its bull cycle as it continues to consolidate below the $70,000 threshold following its fourth block reward halving. The analyst emphasized that this slowdown could realign with the historically repeating block reward halving cycle and potentially continue from mid-September to October 2025.</p> 
<h2 style="text-align: justify" id="strong-ethereum-whale-accumulates-32-million-worth-of-eth-strong"><strong>Ethereum Whale Accumulates $32 Million Worth of ETH</strong></h2> 
<p style="text-align: justify">Meanwhile, according to data from on-chain data provider Lookonchain, a significant investor holding a long position in Ethereum recently withdrew 6,030 ETH worth $18.09 million from the Binance exchange. With this withdrawal, the whale has accumulated a total of 10,758 ETH worth $32.14 million from Binance since May 2.</p> 
<p style="text-align: justify">According to on-chain data, the whale converted the purchased ETH into stETH and deposited it into the decentralized lending protocol Aave. Later, they borrowed $28.5 million worth of stablecoins from Aave to reinvest with the aim of acquiring more ETH.</p> 
<p style="text-align: justify">Experts warn that if ETH fails to maintain its levels just below the $3,000 threshold, its price could drop to as low as $2,700.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-activity-in-bitcoin-and-ethereum-sees-significant-increase/" data-wpel-link="internal">Whale Activity in Bitcoin and Ethereum Sees Significant Increase</a></h5>

Whale Activity in Bitcoin and Ethereum Sees Significant Increase

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