Accumulate

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-accumulate-massive-bitcoin-holdings-in-new-wallets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Accumulate Massive Bitcoin Holdings in New Wallets</a> 
Recent observations in the Bitcoin market indicate significant accumulation activities by whales. A total of 1.97 million Bitcoins have been transferred to newly created large-scale wallets. This movement is seen as a reflection of a notable shift in investor sentiment.
<h2 id="whale-accumulation-activities-increase">Whale Accumulation Activities Increase</h2>
This accumulation phase has followed an increase in the number of long-term investors. As the price of Bitcoin remains close to all-time highs, a shift in market participants’ behavior has become evident.
Ki Young Ju, CEO of CryptoQuant, stated that “the Bitcoin balances in wallets created in less than 155 days have increased by 813% since the beginning of the year, with most of this occurring in the last month.” Ju noted that new investors are acquiring wallets that alter Bitcoin distribution.
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 Ki Young Ju emphasized that new investors influence Bitcoin distribution.
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<h2 id="etf-purchases-continue-bitcoin-accumulation">ETF Purchases Continue Bitcoin Accumulation</h2>
A significant portion of the increase in Bitcoin accumulation is driven by ETF buyers. More than $1 billion in Bitcoin purchases is expected in the third week of October.
According to Arkham Intelligence data, ETF purchases reached $920 million this week. New Bitcoin whales now hold 8.4% of the <a href="https://en.coin-turk.com/ton-blockchain-forms-strategic-partnerships-with-injective-and-pyth-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> supply, boosting their market dominance.
Investor sentiment is shifting toward confidence, as indicated by the Rainbow chart suggesting a current accumulation phase and showing that investor behavior is trending towards “buy.” The <a href="https://en.coin-turk.com/analysts-assess-bitcoins-recent-market-performance/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> fear and greed index has shifted to “greed” levels due to intensified whale purchases.
This situation is also reflected in leveraged positions. Bitcoin open interest has surpassed $21 billion, a level not seen since late July. It is noted that short-term long and short positions may influence price movements.
The tendency for minor increases and the desire to hold Bitcoin for long positions indicate that investors are seeking ways to generate passive income. This behavior reflects a long-term investor mindset that sustains the current market dynamics.
Moreover, significant whale activities have also been observed in other <a href="https://en.coin-turk.com/crypto-capo-shares-insights-on-community-feedback-and-challenges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a> like AAVE, raising speculation about potential price increases.
Technical analysis and market movements suggest that Bitcoin has entered a new acceleration phase. Strategic purchases by whales and ETF support may positively impact future price movements.
These developments demonstrate that the market continues to remain strong rather than retreating to lower levels. The role of whales in shaping Bitcoin’s future dynamics remains crucial.
The strategic actions of whales in the Bitcoin market generate significant signals for investors. Evaluating market trends and investment strategies in this context can be beneficial for risk management.
The post <a href="https://en.coin-turk.com/whales-accumulate-massive-bitcoin-holdings-in-new-wallets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Accumulate Massive Bitcoin Holdings in New Wallets</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Whales Accumulate Massive Bitcoin Holdings in New Wallets

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