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<p>As the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin (BTC) price</a> holds above $71,000, the appetite for long-term holders seems to be growing once again. It seems that the BTC whales have once again returned to massive accumulation while buying in large quantities over the past month.</p> 
<h3 id="large-btc-investors-contribute-1-billion-in-daily-inflows">Large BTC investors Contribute $1 Billion in Daily Inflows</h3> 
<p>CryptoQuant has reported a significant improvement in Bitcoin demand growth, which is a crucial condition for a sustainable price rally. Several factors contribute to this positive trend:</p> 
<ol> 
 <li><strong>Growth in Balances of Permanent Holders and Large Investors</strong>: There has been a faster growth rate in the total balances of long-term holders and substantial investors, indicating strong confidence in BTC’s future performance.</li> 
 <li><strong>Daily Inflows of Large Bitcoin Investors</strong>: The market has seen $1 billion in daily inflows from new large Bitcoin investors, suggesting a growing interest and investment in the cryptocurrency.</li> 
 <li><strong>Increase in Bitcoin Purchases from Spot ETFs</strong>: There has been a noticeable rise in Bitcoin purchases from spot ETFs in the USA, further boosting demand.</li> 
</ol> 
<p>Additionally, the <a rel="nofollow" href="https://cryptoquant.com/community/dashboard/6661a19dd376670a9fe25ab9" target="_blank">report</a> highlights that heavy selling by traders has subsided. This is evidenced by the unrealized profit ratio resetting to 0%, signaling that the market may have reached a point of equilibrium, with reduced selling pressure contributing to the current stability and potential for upward movement in BTC prices.</p> 
<figure id="attachment_200981" aria-describedby="caption-attachment-200981" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-200981" src="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth.jpg" alt="" width="1280" height="424" srcset="https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth.jpg 1280w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth-300x99.jpg 300w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth-1224x405.jpg 1224w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth-768x254.jpg 768w, https://coingape.com/wp-content/uploads/2024/06/Bitcoin-Demand-Growth-150x50.jpg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-200981" class="wp-caption-text">
  Courtesy: CryptoQuant
 </figcaption>
</figure> 
<p>CryptoQuant has observed a significant resurgence in the buying appetite of <a href="https://coingape.com/bitcoin-whales-in-accumulation-mode-btc-price-seller-exhaustion-apparent/" target="_blank" rel="noopener">Bitcoin whales</a>, reaching its highest level in the past two months. Permanent holders have amassed 70,000 BTC over the past 30 days, with whale demand for Bitcoin increasing at a monthly rate of 4.4%.</p> 
<h3 id="the-bitcoin-etf-inflows-continue">The Bitcoin ETF Inflows Continue</h3> 
<p>On the other hand, the spot <a href="https://coingape.com/markets/bitcoin-price-forecast-on-course-to-80000-ath-net-bitcoin-etfs-inflow-eyes-1-billion/" target="_blank" rel="noopener">Bitcoin ETFs</a> witnessed 18 consecutive days of inflows. On Thursday, June 6, the total net inflow of U.S. Bitcoin spot ETFs amounted to $218 million. Grayscale’s ETF, GBTC, experienced a single-day outflow of $37.574 million, while BlackRock’s ETF, IBIT, saw a single-day inflow of $350 million. The cumulative historical net inflow for IBIT has now reached $17.431 billion.</p> 
<p>The post <a href="https://coingape.com/bitcoin-btc-whales-buying-1-billion-in-bitcoin-on-daily-basis-80000-coming-soon/">Bitcoin Whales Buying $1 Billion Worth BTC on Daily Basis, $80,000 Coming Soon</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin Whales Buying $1 Billion Worth BTC on Daily Basis, $80,000 Coming Soon

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