Ethereum

2024

Bitcoin

Billion

Bitcoin whales capitalized on a recent price drop, buying a hefty 20,600 BTC valued at $1.38 billion in a single day, <a href="https://cryptoquant.com/community/dashboard/65f31676afc8f17fcb7b9323?e=65f841c267c8123d48528db8" target="_blank" rel="noreferrer noopener nofollow">according to CryptoQuant</a>. This marked the largest influx into whale wallets since early 2022, highlighting strong accumulation during Bitcoin’s dip from $7,650 to around $69,000. 
The latest data, up to June 11, shows this surge in whale activity. Currently, Bitcoin trades at about $67,500, still below <a href="https://www.cryptotimes.io/2024/03/13/bitcoin-breaks-the-73k-barrier-etf-inflows-ignite-record-highs/" target="_blank" rel="noreferrer noopener">its peak of $73,737</a> in March. 
Interestingly, Bitcoin’s exchange supply dropped to 942,000 BTC, the lowest since late 2021. This decrease often suggests bullish market sentiment, where investors foresee potential price increases. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 😎 Bitcoin's supply on exchanges has now dropped to its lowest level since December, 2021 (~942K coins). Meanwhile, Ethereum and Tether are moving back on. Historically, there is less drop-off risk for all of crypto while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a>'s available supply to be sold is limited. <a href="https://t.co/vGv0q6esxx" target="_blank">pic.twitter.com/vGv0q6esxx</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1801059540416278740?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 13, 2024</a>
 </blockquote> 
 </div>
</figure> 
Meanwhile, Ethereum whales recently acquired over 240,000 ETH, worth nearly $840 million, contrasting Bitcoin’s scenario. Santiment reports an increase in Ethereum supply on exchanges lately, totaling 17.98 million ETH, valued at $63.1 billion. 
As of now, Ethereum trades at $3,510, down from $3,815 earlier in June. Overall, despite recent fluctuations, both Bitcoin and Ethereum continue to draw attention from significant investors, signaling varied market behaviors between the two major cryptocurrencies. 
Bitcoin and Ethereum have shown contrasting trends in recent whale activity. Bitcoin’s significant accumulation during price dips indicates strong investor confidence, supported by a decrease in exchange supply. Meanwhile, Ethereum’s increase in exchange supply despite whale acquisitions suggests a more fluid market sentiment. How might these contrasting behaviors impact future price movements? 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/12/bitcoin-price-skyrockets-past-69000-following-positive-us-cpi-data/" target="_blank" rel="noreferrer noopener">Bitcoin Price Skyrockets Past $69,000 Following Stable US CPI Data</a> 
</blockquote>

Bitcoin Whales Grab $1.4 Billion in a Single Correction Day

The Crypto Times

Other articles published on Jun 13, 2024

EU Election Results Set to Shape Future of Crypto and Blockchain Regulation

Terraform Labs settles to pay SEC $4.5 billion in fraud case

Memecoins are a ‘cornerstone’ of crypto — Galaxy’s Novogratz

Bitcoin Book Spurs US Bill to Abolish Federal Reserve

SHIB and PEPE struggle as Raboo gains traction in the memecoin market

Play-to-Earn Meme Coin Project PlayDoge Raises $4M in Trending Presale

Join our free newsletter for daily crypto updates!