Bitcoin

USDC

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-examines-bitcoin-whale-movements/" data-wpel-link="internal">Analyst Examines Bitcoin Whale Movements</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/santiment-report-bitcoin-whales-continue-buying-despite-market-volatility/" data-wpel-link="internal">cryptocurrency market</a>‘s volatility over the past three months has scared investors. Many are currently holding altcoins at a loss. Some have already exited the market by selling at a loss. On the other hand, whale activity in the cryptocurrency field continues. An important comment has been made regarding this activity. Let’s look at the evaluations.</p> 
<h2 style="text-align: justify" id="analyst-s-striking-comment-on-bitcoin-whales">Analyst’s Striking Comment on Bitcoin Whales</h2> 
<p style="text-align: justify">A well-known analyst in the cryptocurrency market, CryptoRand, has recently examined the movements made by large Bitcoin (BTC) holders. The analysis shared on social media platform X focused on data provided by Santiment.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-368611 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-9.png" alt="" width="501" height="473"></p> 
<p style="text-align: justify">According to the data, as of July 1, 2024, wallets containing 10 or more BTC reached a total of 16.17 million BTC, marking a 1.07% increase over the last six months. This indicates a steady rise in BTC accumulation by whales despite <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> volatility.</p> 
<h2 style="text-align: justify" id="decreases-in-usdt-and-usdc-holdings">Decreases in USDT and USDC Holdings</h2> 
<p style="text-align: justify">The same analysis also noted a decrease in USDT and USDC holdings in wallets with large balances ranging from 100,000 to 10,000,000 units. Over the past six months, USDT holdings decreased by 5.37%, and USDC holdings decreased by 1.99%. This decline can be explained by large holders redirecting their stablecoin assets to Bitcoin, seeing BTC as a more attractive investment.</p> 
<p style="text-align: justify">The Santiment chart, along with background bars showing BTC price movements, also reflected market fluctuations. However, the consistent BTC accumulation by large investors stood out as a significant indicator of their confidence in Bitcoin’s resilience and long-term growth potential.</p> 
<p style="text-align: justify">CryptoRand’s analysis highlighted the efforts of whales to strengthen their BTC positions and the optimism regarding Bitcoin’s <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future trajectory</a>. This situation reflected a strong belief in the long-term potential of the cryptocurrency among large Bitcoin holders despite market volatility.</p> 
<p style="text-align: justify">On the other hand, the duration of whale activity and the withdrawal of assets from exchanges by whales can be seen as a sign of an expected rise in BTC. Finally, looking at the price of Bitcoin, the flagship of cryptocurrencies, BTC was trading at $57,774 at the time of writing.</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/analyst-examines-bitcoin-whale-movements/" data-wpel-link="internal">Analyst Examines Bitcoin Whale Movements</a></h5>

Analyst Examines Bitcoin Whale Movements

Table of Contents

COINTURK NEWS

Alte articole publicate pe 7 iul. 2024

Crypto Investors Flock to BlockDAG, Leaves Ethereum and Tron Behind with a 1300% Surge

Boost Your Crypto Portfolio: MoonBag Referral Programme Attracts Investors With 10 % Bonus

July 2024 Heats Up: BlockDAG’s $2 Million Extravaganza Overshadows Aptos and Stellar

Top 3 AI Cryptocurrencies To Watch In The First Week Of July

5 Proven Ways to Make Money in the Cryptocurrency Market

House to Revisit Crypto Regulation Bill Vetoed by Biden

Join our free newsletter for daily crypto updates!