United

Bitcoin

Spot

<ul class="news-points">
 <li>Large investors buying Bitcoin at pre-bull run pace.</li>
 <li>Spot ETFs drive record Bitcoin holdings in the U.S.</li>
 <li>Ethereum demand rises, whales hold record amounts.</li>
</ul>
According to a CryptoQuant <a href="https://cryptoquant.com/community/dashboard/6661a19dd376670a9fe25ab9?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=dashboard&amp;utm_content=weekly-crypto-report" target="_blank" rel="noopener noreferrer nofollow">weekly report</a>, large investors, known as “whales,” are accumulating Bitcoin at a pace similar to that seen before the 2020 bull run. The firm’s data reveals daily injections of $1 billion into Bitcoin and a significant increase in holdings by these whales. This mirrors similar activity observed in mid-2020.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 However, Stablecoin Liquidity needs to recover to support a sustained price rally. Tether's USDT growth has decelerated, growing at the slowest pace since February 11th. <a href="https://t.co/36sfXQEuqv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/36sfXQEuqv</a>— CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1798753655711047890?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 6, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXe6j2CiLVryEgpegv5N0pCmIP5Zrnd49NAGu7QsW1gzc_TYWG2OtXDWynIz-_zWvOShFskZHqR2ksDiDibrkMl_gD0PhUNnq3klToBpCun6esaFfFFZkr2nedoltzvQt5bOA11kjNSAT8J3WaQlPUZziGQv?key=9udXJiMI7Ru7YscshSinTg" alt="">
</figure>
<a href="https://x.com/cryptoquant_com/status/1798753543349838135/photo/1" target="_blank" rel="noopener noreferrer nofollow">Source: Cryptoquant</a>
CryptoQuant also highlights a surge in Bitcoin purchases from spot Exchange-Traded Funds (ETFs) in the United States. These ETFs track the price of Bitcoin but trade on traditional stock exchanges. The chart shared by CryptoQuant shows that total spot ETF Bitcoin holdings in the U.S. have reached record highs, indicating growing institutional investment.
<img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdUw3_7qCYMzac2cQ5-BpVMdCbmNa1hIkxyK90olcvOmAzSAV6e-97_gK-FvSRaF-rP8srIVmZWJpHahFlRSy60J4Wj1BQAUjaNvNafoSMzRQ_fyVAassdWEYXvSYnSCp7RGAc8FiaOJcbFgGS3ZTYgqV0o?key=9udXJiMI7Ru7YscshSinTg" width="602" height="179"> <a href="https://x.com/cryptoquant_com/status/1798753543349838135/photo/1" target="_blank" rel="noopener noreferrer nofollow">Source: Cryptoquant</a>
Ethereum is also exhibit…
The post <a href="https://coinedition.com/crypto-whales-are-buying-up-bitcoin-like-its-2020-again/" rel="noopener noreferrer nofollow">Crypto Whales Are Buying Up Bitcoin Like It’s 2020 Again</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Whales Are Buying Up Bitcoin Like It’s 2020 Again

Coin Edition

Other articles published on Jun 7, 2024

Bitcoin ETFs See Significant Inflows

Bitwise CIO’s Insight: Clear Regulations Could Drive $20 Trillion to Crypto Market

Bitcoin’s L2 Merlin Chain Unveil Merlin Phantom For Bitmap, There’s A Catch

Bitget Announces Listing of Taiko (TAIKO) on PoolX Staking Platform (7 Jun)

Market Bulls Flock to Meme Coins

APT, ARB, STRK tokens set to unlock next week, Will it impact market?

Join our free newsletter for daily crypto updates!