Bitcoin

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 <p class="paragraph">The cryptocurrency market has witnessed a notable shift as highly capitalized investors, often referred to as “whales,” continue accumulating Bitcoin (BTC), driving its price toward new heights. Notably, a prominent Bitcoin whale has accumulated 4,380 BTC over the past month, signaling potential optimism for an upcoming market turnaround.</p>
 <p class="paragraph">In particular, this Bitcoin whale capitalized on the recent <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> dip by making a substantial purchase of 620 BTC, valued at $39.8 million. Since March 21, the investor has maintained a strong buying pattern, amassing a total of 4,380 BTC for $282.38 million, according to <em>Lookonchain’s</em> post.</p>
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    <p lang="en" dir="ltr">After the price of $BTC dropped, this whale bought another 620 $BTC($39.8M) at the bottom.<br><br>Since March 21, this whale has bought 4,380 $BTC($282.38M) at $64,471 from #Binance.<br><br>Address:<br>12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo pic.twitter.com/wgWY4UE7Sj</p>— Lookonchain (@lookonchain) April 25, 2024
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 <p class="paragraph">The address associated with this whale, ‘12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo’, currently holds Bitcoin at an average price of $64,471 per BTC through the Binance exchange. The whale’s actions suggest broader <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> optimism and the potential anticipation of higher prices.</p>
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   Bitcoin Whale transaction history. Source: <em>Lookonchain</em> <br>
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 <h2 class="wp-block-heading" id="h-confidence-in-bitcoin-s-long-term-value">Confidence in Bitcoin’s long-term value</h2>
 <p class="paragraph">The significance of these transactions extends beyond the volume of Bitcoin acquired. It reflects strong confidence in Bitcoin’s long-term value, suggesting that despite <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> volatility, major investors are doubling down on their cryptocurrency investments. This confidence is further underscored by their reluctance to cash out at current prices, despite the potential for significant profits.</p>
 <p class="paragraph">The significance of these transactions extends beyond the volume of Bitcoin acquired, as there has been a notable increase in unrealized profits. This suggests that whales are choosing to retain their holdings rather than cashing out at current prices, despite the potential for significant gains as per the data from <em>CryptoQuant.</em></p>
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    <p lang="en" dir="ltr">Unrealized Whales' Profits<br><br>“Highlights a significant rise in long-term whales's unrealized profits, suggesting they're holding onto their positions and could impact the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> if they start taking profits.” – By @Woo_Minkyu <br><br>Full post https://t.co/UspANdO97Z</p>— CryptoQuant.com (@cryptoquant_com) April 25, 2024
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 <p class="paragraph">Such behavior underscores a deep-seated confidence among long-term holders in the enduring value of Bitcoin.</p>
 <h2 class="wp-block-heading" id="more-bullish-signals-for-bitcoin-whales">More bullish signals for Bitcoin whales</h2>
 <p class="paragraph">Ali Martinez, in a post on X (formerly Twitter), highlighted that around $62 million will be liquidated on Binance alone if Bitcoin rebounds to $66,900. This is particularly bullish for whales, as such liquidations allow them to consolidate their <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> positions and potentially increase their profits during <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> recoveries.</p>
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    <p lang="en" dir="ltr">Around $62 million will be liquidated on #Binance alone if #Bitcoin rebounds to $66,900! pic.twitter.com/n4V6nXrvoY</p>— Ali (@ali_charts) April 25, 2024
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 <p class="paragraph">At press time, BTC is trading at $64,310, marking a slight decline of 0.25% over the day. This drop followed recent U.S. economic data indicating rising inflation and slowing GDP growth, contributing to market uncertainty.</p>
 <p class="paragraph">Furthermore, for the first time since its inception, BlackRock’s Bitcoin ETF, IBIT, did not draw any investor money, snapping a 71-day inflow streak.</p>
 <p class="paragraph">Despite these bearish trends, the community is watching closely to see if the recent whale activities will translate into a sustained upward trajectory in the prices of cryptocurrencies</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/is-a-market-turnaround-near-whale-scoops-up-4-380-btc-in-a-month-tbt86649.html">https://thebittimes.com/is-a-market-turnaround-near-whale-scoops-up-4-380-btc-in-a-month-tbt86649.html</a></p>

Is a market turnaround near? Whale scoops up 4,380 BTC in a month

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