Large crypto holders are aggressively purchasing Bitcoin amid market dips, as new data from CryptoQuant shows.
In 2024, Bitcoin withdrawals from exchanges have reached unprecedented rates. Over 46,000 BTC, worth more than $2.6 billion, have been moved off exchanges on July 5, indicating a shift towards long-term holding.
This trend suggests optimism for Bitcoin’s price. Whales are betting on a future rise, even as many investors sell in panic, favoring long-term investment over short-term volatility.
Significant outflows from spot and derivatives exchanges indicate a reduction in risk exposure. Moving Bitcoin to private wallets points to a strategy focused on stability and future gains, potentially reducing market volatility.
The increased activity from whales, despite recent price drops, is a positive indicator for Bitcoin’s future. Observing these significant investors betting on a price increase is promising for the market.
Bitcoin is entering June with renewed strength as institutional appetite and fresh capital flows continue to shape its trajectory.
After more than four weeks of uninterrupted investor enthusiasm, BlackRock’s iShares Bitcoin Trust has reported its steepest daily outflow since its inception, signaling a potential shift in sentiment.
Pakistan’s aggressive embrace of Bitcoin mining has drawn scrutiny from the International Monetary Fund (IMF), which is now demanding clarity on the country’s allocation of 2,000 megawatts of electricity to digital assets and AI infrastructure.
A new analysis from China’s International Monetary Institute (IMI) suggests that Bitcoin is quietly gaining ground as a serious player in the global reserve system.