Franklin

FOMO

Bitcoin

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The full picture of the Bitcoin whale population looks bullish, as they continue to accumulate BTC.</li> 
 <li>The number of BTC whales is almost at a new ATH.</li> 
</ul> 
<p>Despite the fact that Bitcoin’s price saw high volatility during the past few days ahead of important US economic data and a rare miner capitulation event, the full picture of the Bitcoin whale population looks bullish.</p> 
<p>Whales have been accumulating Bitcoin recently and, as on-chain analyst Willy Woo noted, the whale population continues to rise.</p> 
<p>In a new <a href="https://x.com/woonomic/status/1801429535956643850" rel="nofollow" target="_blank">post</a> on X, Woo said that in every cycle in the past, the FOMO phase of the bull market started when whales started selling into the price rally.</p> 
<p>He shared a graph via Glassnode as well, showing the number of Bitcoin whales:</p> 
<p><img decoding="async" src="https://pbs.twimg.com/media/GP_1j7eW8AAMb_f?format=jpg&amp;name=large" alt="Image" title="Bitcoin Whales Number Close To A New ATH, Amidst Accumulation Opportunities 23"></p> 
<p><a href="https://www.lookintobitcoin.com/charts/addresses-greater-than-1000-btc/" rel="nofollow noopener" target="_blank">LookIntoBitcoin</a> also shared a graph featuring entities holding at least 1,000 BTC which shows the fact that large holders continue to buy BTC.</p> 
<p>They also shared another graph with entities holding over $100k which are also on the rise, and it looks like whales are not the only ones accumulating BTC at lower prices.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_.png"><img loading="lazy" decoding="async" class="alignnone wp-image-44883 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_.png" alt="FireShot Capture 924 Addresses with Balance 100k LookIntoBitcoin www.lookintobitcoin.com" width="1335" height="676" title="Bitcoin Whales Number Close To A New ATH, Amidst Accumulation Opportunities 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_-300x152.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_-1024x519.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_-768x389.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_-750x380.png 750w, https://crypto.ro/en/wp-content/uploads/2024/06/FireShot-Capture-924-Addresses-with-Balance-100k-LookIntoBitcoin-www.lookintobitcoin.com_-1140x577.png 1140w" sizes="(max-width: 1335px) 100vw, 1335px"></a></p> 
<p>Also, according to the latest reports coming from CryptoQuant, BTC whales bought 20k Bitcoin worth $1.3B during Tuesday’s price dip. They seized the opportunity to accumulate more at a lower price.</p> 
<p><a href="https://x.com/BitcoinNewsCom/status/1801245641063985358/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GP9Ci7pWwAAwUji?format=jpg&amp;name=large" alt="GP9Ci7pWwAAwUji?format=jpg&amp;name=large" width="1280" height="720" title="Bitcoin Whales Number Close To A New ATH, Amidst Accumulation Opportunities 25"></a></p> 
<h2 id="bitcoin-trades-above-67k-amidst-optimistic-price-predictions">Bitcoin trades above $67k amidst optimistic price predictions</h2> 
<p>At the moment of writing this article, BTC is trading above $67,000.</p> 
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<p>Despite recent price drops, the coin remains surrounded by optimistic predicitons. Willy Woo recently said that when the <a href="https://crypto.ro/en/news/bitcoin-price-surge-predicted-only-after-purging-of-more-futures-bets/">miner capitulation</a> phase post-halving is over, we can expect the price of BTC to go up.</p> 
<p>Also, following a<a href="https://crypto.ro/en/news/bitcoins-92-day-consolidation-could-trigger-a-massive-rally/"> consolidation period</a> of over 90 days, previous cycles taught us that the price will surge – the longer the consolidation below ATH, the stronger the price surge for Bitcoin.</p> 
<p>According to the latest reports, analysts from Bernstein, a research and brokerage firm, have<a href="https://crypto.ro/en/news/bernstein-experts-forecast-bitcoin-value-surging-to-200000-by-2025s-end/"> revised</a> their price target for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a>&nbsp;to $200,000, up from $150,000, by 2025.</p> 
<p>According to them, the new target is based on anticipated unparalleled demand from Bitcoin ETFs overseen by leading global asset managers like BlackRock, Fidelity, and Franklin Templeton.</p> 
<p>These ETFs are expected to reach around $190 billion in assets under management, a significant increase from the current $58.3 billion, according to Gautam Chhugani and Mahika Sapra.</p>

Bitcoin Whales Number Close To A New ATH, Amidst Accumulation Opportunities

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