United

Bitcoin

Spot

<a href="https://optimisus.com/news/crypto-news/bitcoin-and-ethereum-are-now-officially-classified-as-commodities-says-cftc-chair/" rel="noopener noreferrer nofollow">Bitcoin whales</a> have been steadily accumulating BTC since the start of the year, suggesting an optimistic view of the crypto market. The consistent acquisition of Bitcoin by prominent holders, sometimes referred to as whales, has bolstered investor confidence and played a significant role in the upward trend of Bitcoin's value in the last six months.  
Notwithstanding the current decline in the market, evidence from on-chain sources indicates that large-scale addresses have consistently increased their holdings, reaching their peak levels since 2022.  
The aggregate Bitcoin supply held in addresses with a balance of 1,000 <a href="https://optimisus.com/news/german-governments-massive-bitcoin-sell-off-of-16000-btc-causes-over-13-drop-in-prices/" rel="noopener noreferrer nofollow">BTC</a> or above has reached its highest level in two years. The rise commenced in January 2024, following the launch of Spot Bitcoin ETFs in the United States, which facilitated the purchase of Bitcoin by institutional investors.  
According to Glassnode data, US Spot ETFs have purchased more than 900,000 BTC within a span of only seven months. In July, Bitcoin miners also contributed to the market by acquiring an additional 4,500 BTC.  
As of now, the total amount of Bitcoin (BTC) held in addresses with a balance of 1,000 BTC or more is 7.9 million BTC, which accounts of 40% of the total 19.7 million BTC in circulation. 
The post <a href="https://optimisus.com/news/crypto-news/bitcoin-whales-reach-their-highest-holdings-in-2-years/" rel="noopener noreferrer nofollow">Bitcoin whales reach their highest holdings in 2 years</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Bitcoin whales reach their highest holdings in 2 years

Optimisus

Egyéb ezen a dátumon (2024. júl. 22.) megosztott cikkek

Bitget Partners with Upland to Launch Its Metaverse Headquarters with 888 Exclusive Properties (2...

Empowering the Future: Bybit Web3 and Bybit Learn Launch Writing Contest to Spotlight Youth Voice...

Metaplanet Hits 1B Yen Bitcoin Accumulation Target

New Meme Coins That Could Be the Next to List on Binance

MoonBag's Transparent Approach vs. Aptos' Dilution: Which Crypto Is Right for You?

Don't Miss Out: Experts Warn Today is the Final Opportunity to Snag Low-Priced Altcoins Before ET...

Join our free newsletter for daily crypto updates!