Accumulate

Bitcoin

Frenzy

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-investors-accumulate-23-billion-in-a-month/" data-wpel-link="internal">Bitcoin Investors Accumulate $23 Billion in a Month</a><br></p>
<p style="text-align: justify">In the last month, <a href="https://en.coin-turk.com/anthony-scaramucci-predicts-major-bitcoin-surge/" data-wpel-link="internal">Bitcoin</a> (BTC) HODL’ers, or wallet addresses holding BTC at all costs, accumulated nearly $23 billion. CryptoQuant founder and CEO Ki Young Ju evaluated the current situation by sharing on his X account, stating, “Something is definitely happening in the background.”</p> 
<h2 style="text-align: justify" id="strong-bitcoin-accumulation-frenzy-strong"><strong>Bitcoin Accumulation Frenzy</strong></h2> 
<p style="text-align: justify">Ju’s observation refers to the recent increase in the 30-day demand change of Bitcoin HODL’ers. According to the <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, this group of investors bought approximately 404,448 BTC worth $22.8 billion in the last 30 days. He clearly stated that this is an accumulation. At the end of July, significant inflows were observed to Bitcoin HODL’ers’ wallet addresses, and he pointed out the inflows to wallet addresses like exchange-traded funds, saying, “Big investors are clearly accumulating, and this is at an unprecedented level.”</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377601" src="https://coin-turk.com/wp-content/uploads/2024/08/Bitcoin-Birikim-scaled.jpeg" alt="" width="2560" height="1440"></p> 
<p style="text-align: justify">Ju predicts that within a year, TradFi institutions, companies, governments, or other entities will announce that they bought Bitcoin in the third quarter of 2024. He also added that individual investors will regret not buying Bitcoin due to the German government’s sales, Mt. Gox, or macroeconomic events.</p> 
<p style="text-align: justify">In another X post, Ju mentioned several other positive factors, such as Bitcoin miner activity. He stated, “Miner capitulation is almost over,” noting that the hash rate is approaching all-time highs and that mining costs in the US are around $43,000 per BTC. He predicts the hash rate will remain stable as long as the price does not fall below this level.</p> 
<h2 style="text-align: justify" id="strong-bull-market-still-strong-strong"><strong>“Bull Market Still Strong”</strong></h2> 
<p style="text-align: justify">“Individual investors are largely absent, and this situation is similar to mid-2020,” said the CryptoQuant CEO, highlighting that long-term investors who have held Bitcoin for over three years sold between March and June but that there is currently no significant selling pressure from former large investors. “Based on this data, I believe the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> is still strong. If the market does not recover within two weeks, I will reassess my observation. I follow smart money, so if I am wrong, new large investors were either misled or underestimated the macro environment,” he said.</p> 
<p style="text-align: justify">Moreover, accumulation seems to have increased since the market drop on August 5. During the drop, Bitcoin’s price fell to $48,800 but recovered to $57,000 on August 6, showing a 14% recovery. Additionally, the Crypto Fear and Greed Index rose from extreme fear to fear levels. This rise indicates a slight improvement in market sentiment.</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/bitcoin-investors-accumulate-23-billion-in-a-month/" data-wpel-link="internal">Bitcoin Investors Accumulate $23 Billion in a Month</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-investors-accumulate-23-billion-in-a-month/" data-wpel-link="internal">Bitcoin Investors Accumulate $23 Billion in a Month</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Investors Accumulate $23 Billion in a Month

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