Bitcoin

USDC

Spot

Billion

James

<p>Bitcoin whales have continued to show their resilience and unwavering bullishness on the flagship crypto. This category of investors has <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-whales-buying-spree/">accumulated</a> a significant amount of the crypto token in the last seven days amid heightened volatility in <a href="https://bitcoinist.com/bitcoin-rally-is-far-from-over-2/#:~:text=This%20suggests%20that%20the%20crypto,is%20a%20%E2%80%9Cgood%20thing.%E2%80%9D" rel="nofollow">Bitcoin’s price</a>.&nbsp;</p> 
<h2 id="bitcoin-whales-accumulate-1-4-worth-of-btc">Bitcoin Whales Accumulate $1.4 Worth Of BTC</h2> 
<p><a href="https://x.com/intotheblock/status/1793608656971313548" rel="nofollow">Data</a> from the market intelligence platform <a href="https://bitcoinist.com/ethereums-explosion-3600-90-investors-profit-data/" rel="nofollow">IntoTheBlock</a> shows that Bitcoin addresses holding between 1,000 and 10,000 BTC have combined to accumulate 20,000 BTC ($1.4 billion) over the past seven days. This accumulation coincides with <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-soars-70k/">Bitcoin’s recent price surge</a> above $70,000.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-609667" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales.png?w=460&amp;resize=460%2C220" alt="Bitcoin whales" width="460" height="220" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales.png?w=460&amp;resize=460%2C220 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>Furthermore, these whales’ purchases suggest that volume is picking up for the flagship crypto, which could help trigger more price rallies. Moreover, <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">on-chain analytics platform Glassnode</a> noted in a <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-lack-of-interest-70000/">recent market report</a> that the selling pressure on Bitcoin was declining. Therefore, Bitcoin’s price looks primed to take off sooner rather than later with significant buys like the one made by these whales.&nbsp;</p> 
<p>Meanwhile, <a href="https://www.newsbtc.com/news/bitcoin/institutional-buyers-of-bitcoin/">institutional investors</a> are also back in the fold and look to be doubling their bets on the flagship crypto. This is evident in the fact that inflows into the <a href="https://bitcoinist.com/spot-bitcoin-etfs-record-inflows/" rel="nofollow">Spot Bitcoin ETFs</a> have picked up over the last two weeks. <a href="https://x.com/FarsideUK/status/1793851078967955953" rel="nofollow">Data</a> from Farside Investors shows that these funds have taken in almost $800 million in this week alone.&nbsp;</p> 
<p><a href="https://bitcoinist.com/bitcoin-block-800000-mined-btc-epic-achievements/" rel="nofollow">Crypto analyst James Check</a> (also known as Checkmatey) <a href="https://bitcoinist.com/bitcoin-rally-is-far-from-over-2/#:~:text=This%20suggests%20that%20the%20crypto,is%20a%20%E2%80%9Cgood%20thing.%E2%80%9D" rel="nofollow">noted</a> in a recent market report that these funds could lead the next wave of demand, driving Bitcoin’s price to a new <a href="https://bitcoinist.com/bitcoin-breaks-through-69000-setting-new-record/" rel="nofollow">all-time high (ATH)</a>. These Spot Bitcoin ETFs have already been instrumental to Bitcoin’s growth this year, with the flagship crypto hitting its current ATH of $73,750 earlier in March.&nbsp;</p> 
<p>Like Check, crypto analyst Gustavo Faria also noted in a recent <a href="https://cryptoquant.com/insights/quicktake/664cc620f3cac64b85486896-New-Demand-Wave?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=gustavo-faria" rel="nofollow">blog post</a> that there are signs that a new wave of demand is emerging. This has raised the possibility of the next rally happening even sooner than expected. <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-57938-level-to-watch/">Crypto analysts like BitQuant</a> have provided insights into how high Bitcoin could rise on its next leg up, predicting that the crypto token will reach $95,000.&nbsp;</p> 
<h2 id="no-need-to-worry-about-price-dips">No Need To Worry About Price Dips</h2> 
<p><a href="https://bitcoinist.com/solana-bitcoin-sentiment-bearish-signal-buy-more/" rel="nofollow">On-chain analytics platform Santiment</a> suggested there was no need to worry about any price correction for Bitcoin as the bulls have enough capital to buy up these dips. The platform <a href="https://x.com/santimentfeed/status/1793452767039865158" rel="nofollow">highlighted</a> that the amount of <a href="https://bitcoinist.com/stablecoin-exchange-inflows-drop-why-bad-bitcoin/" rel="nofollow">non-empty stablecoin wallets</a> is rising, indicating that more whales are loading up their bags to invest in the crypto market.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium wp-image-609670" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales-1.png?w=460&amp;resize=460%2C345" alt="Bitcoin whales 1" width="460" height="345" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales-1.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/05/Bitcoin-whales-1.png?w=460&amp;resize=460%2C345 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>Specifically, <a href="https://bitcoinist.com/circle-launches-usdc-stablecoin-on-polkadot-network/" rel="nofollow">USDC non-empty wallets</a> have grown by over 13%, and <a href="https://bitcoinist.com/tether-launches-recovery-tool-hits-100-billion/" rel="nofollow">Tether non-empty wallets</a> have grown by over 15%. This figure is expected to keep rising as the bull run progresses later in the year.&nbsp;</p> 
<p>At the time of writing, Bitcoin is trading at around $67,200, down over 3% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow">data</a> from CoinMarketCap.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/ucDeiSpm/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1576">

Bitcoin Whales Buy Up $1.4 Billion Worth Of BTC Amid Heightened Volatility

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