Donald Trump

Bitcoin

April

Bitcoin whales took full advantage of the crypto market slump earlier this month, accumulating 71,000 Bitcoin amid the fastest rate of Bitcoin stacking since April 2023.&nbsp;
Much of that Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) — worth $4.3 billion at current prices — was scooped up when Bitcoin retraced to $54,200 on July 5, a <a href="https://x.com/intotheblock/status/1812165143624667642?s=46&amp;t=MuRujqZUAz3TQE1vmr3c6A" target="_blank" rel="noopener nofollow">chart</a> from cryptocurrency analytics firm IntoTheBlock shows.
CryptoQuant <a href="https://x.com/cryptooindia/status/1811065585641390363?s=46&amp;t=MuRujqZUAz3TQE1vmr3c6A" target="_blank" rel="noopener nofollow">notes that</a> <a href="https://cointelegraph.com/news/what-are-bitcoin-whales-and-how-to-spot-them">Bitcoin whales</a> have now been stacking Bitcoin at the fastest rate (on a 30-day moving average) since April 2023, shortly after several <a href="https://cointelegraph.com/news/banking-crisis-what-does-it-mean-for-crypto">local banks in the US collapsed</a>. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-07/17deffd0-bf63-4c2b-a0a4-777cefdb5d3c.jpg" alt="Bitcoin whales snapped up $4.3B of BTC amid price slump">
 <figcaption style="text-align: center;">
 Bitcoin demand from accumulation addresses. Source: CryptoQuant
 </figcaption>
</figure>
“This suggests that the bottoming out of #BTC may be nearly complete,” CryptoQuant analyst Minkyu Woo <a href="https://x.com/Woo_Minkyu/status/1810893042821517361" target="_blank" rel="noopener nofollow">added</a> in a separate X post.
Meanwhile, smaller traders have been selling off their bags during the current dip, <a href="https://x.com/santimentfeed/status/1811199249776074985" target="_blank" rel="noopener nofollow">noted</a> cryptocurrency analytics firm Santiment.
Santiment also observed a 261 net increase in the number of Bitcoin wallets holding at least 10 Bitcoin over the first 10 days of July.
“[This] should give traders comfort in a long-term bullish future.”
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-07/06c08e2d-e322-4534-9a3e-264baed78582.jpg" alt="Bitcoin whales snapped up $4.3B of BTC amid price slump">
 <figcaption style="text-align: center;">
 Number of Bitcoin wallets with at least 10 Bitcoin. Source: Santiment
 </figcaption>
</figure>
It appears <a href="https://cointelegraph.com/explained/how-do-crypto-whales-protect-their-identities">not all Bitcoin whales</a> are planning to stack and hodl (hold on for dear life), though. 
One dormant Bitcoin whale woke up on July 14 after a 12-year hiatus, transferring 1,000 Bitcoin worth nearly $60 million to two new wallets, <a href="https://x.com/whale_alert/status/1812584008372417001" target="_blank" rel="noopener nofollow">according</a> to Whale Alert.
Related: <a href="https://cointelegraph.com/news/bitcoin-price-faces-major-summer-of-2021-style-correction-despite-btc-whale-buying">Bitcoin price faces major ‘summer of 2021’ style correction despite BTC whale buying</a>
Bitcoin is currently trading at $60,850, down 8.1% over the last month.
<a href="https://cointelegraph.com/learn/the-mt-gox-bitcoin-heist">Mt. Gox preparing to offload $8 billion</a> to its creditors and the <a href="https://cointelegraph.com/news/german-government-offloads-final-bitcoin-holdings">German government selling</a> nearly 50,000 Bitcoin — worth $3 billion — have largely fueled the price slump, industry pundits say.
However, Bitcoin started showing signs of a price recovery over the weekend, breaking the $60,000 resistance barrier and increasing 6% since trading hours closed on Friday.
This included a sharp increase immediately after US presidential candidate Donald Trump <a href="https://cointelegraph.com/news/donald-trump-memecoin-price-soars-following-assassination-attempt">survived an assassination attempt</a> while speaking on stage at a rally in Butler, Pennsylvania, on July 13.
Magazine: <a href="https://cointelegraph.com/magazine/philippines-xrp-theft-mining-rigs-tax-south-korea-asia-express/">Singapore ‘not ready’ for Bitcoin ETFs, sneaky crypto mining rig importer: Asia Express</a>

Bitcoin whales snapped up $4.3B of BTC amid price slump

Cointelegraph

Ďalšie články zverejnené 15. 7. 2024

MoonBag Takes Lead Over GALA And ChainGPT As Best Meme Coin Presale Of 2024

Breaking Down MoonBag’s Top Crypto Presale Success: $3.4M Secured as Sei and Notcoin’s Efforts Pa...

Get Latest Crypto: Presales July 2024

Bitcoin Surges Past $60K: Could It Reach $88K by September?

A Tale of Wise Strategies: From Chainlink’s Losses and Bitget’s Limitations to MoonBag Meme Coin’...

Skyrocket Your Earnings: BlockDAG’s X30 Mines a Cool $12K Daily, Dwarfing XRP and ETC

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!