Ethereum

Bitcoin

when

Notable

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-whales-amass-after-price-drop" data-wpel-link="internal">Bitcoin Whales Amass After Price Drop</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-potential-surge-to-74000" data-wpel-link="internal">Bitcoin</a> whales experienced a significant impact from the price drop on June 11, accumulating a staggering 20,600 Bitcoins worth $1.38 billion on that day, according to blockchain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data analysis</a> firm CryptoQuant. This event coincides with the Bitcoin exchange-traded funds being just six weeks old for these large holders.</p> 
<h2 id="what-is-happening-on-the-bitcoin-front">What Is Happening on the Bitcoin Front?</h2> 
<p style="text-align: justify">June 11 marked the most substantial inflow day since February 28, when Bitcoin neared its all-time high. During this period, daily whale account entries typically ranged between 1,300 and 2,200 Bitcoins. The price of Bitcoin dropped from $71,650 on June 7 to $69,000, leading to a significant accumulation of 20,600 Bitcoins by whales.</p> 
<p style="text-align: justify">As of June 12, Bitcoin’s price saw a brief rise following promising CPI results, although updated data for that day isn’t available. Currently, Bitcoin is trading at $67,500.</p> 
<p style="text-align: justify">Blockchain data analysis platform Santiment reports that Bitcoin’s supply on cryptocurrency exchanges has decreased to 942,000, the lowest since December 22, 2021. This reduction in reserves is often seen as a sign of a stronger market, with <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a> anticipating a medium to long-term price increase.</p> 
<h2 id="notable-data-for-ethereum">Notable Data for Ethereum</h2> 
<p style="text-align: justify">Crypto analyst Ali Martinez, referencing Santiment data, noted that Ethereum whales have acquired over 240,000 Ethereum, valued at approximately $840 million at current prices. Contrary to Bitcoin, the supply of Ethereum on exchanges has risen recently, with 17.98 million Ethereum worth $63.1 billion now on exchanges. Ethereum’s price has declined from $3,815 on June 7 to $3,510 currently, an 8% drop.</p> 
<h2 id="key-takeaways">Key Takeaways</h2> 
<p style="text-align: justify">– Bitcoin whales are accumulating significant amounts after price drops, indicating potential market confidence.</p> 
<p style="text-align: justify">– A marked decrease in Bitcoin reserves on exchanges could hint at future price increases.</p> 
<p style="text-align: justify">– Ethereum whales are also active, but the increase in supply on exchanges contrasts with Bitcoin’s trend.</p> 
<p style="text-align: justify">These insights suggest a complex market behavior with varying strategies between Bitcoin and Ethereum whales.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-whales-amass-after-price-drop" data-wpel-link="internal">Bitcoin Whales Amass After Price Drop</a></h5>

Bitcoin Whales Amass After Price Drop

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