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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-boost-bitcoin-holdings-in-new-wallets" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Boost Bitcoin Holdings in New Wallets</a><br></p>
<p style="text-align: justify">Recent trends in the <a href="https://en.bitcoinhaber.net/why-are-institutions-buying-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> landscape reveal that large-scale investors, commonly referred to as whales, are significantly increasing their holdings. Data indicates that approximately 1.97 million Bitcoins have been shifted into newly established wallets, suggesting a marked change in investor attitudes.</p>
<h2 id="are-whales-accumulating-bitcoin-more-than-ever">Are Whales Accumulating Bitcoin More Than Ever?</h2>
<p style="text-align: justify">This current phase of accumulation has been spurred by a rise in long-term investors. With Bitcoin prices hovering near record highs, a shift in market behavior is increasingly apparent.</p>
<h2 id="how-are-etf-purchases-driving-this-accumulation">How Are ETF Purchases Driving This Accumulation?</h2>
<p style="text-align: justify">A major factor behind the spike in Bitcoin holdings is the activity of exchange-traded fund (ETF) buyers. Projections suggest that over $1 billion in Bitcoin transactions will occur in the third week of October alone.</p>
<p style="text-align: justify">Key insights from Ki Young Ju, CEO of CryptoQuant, reveal that Bitcoin balances in wallets less than 155 days old have surged by 813% this year, primarily in the last month. New investors are reshaping the distribution of Bitcoin.</p>
<ul>
 <li>New Bitcoin wallets account for 8.4% of the total cryptocurrency supply.</li>
 <li>Investor sentiment is shifting towards optimism as indicated by the Rainbow chart.</li>
 <li>The crypto fear and greed index reflects a state of ‘greed’ due to increased whale activity.</li>
 <li>Bitcoin open interest has climbed above $21 billion, indicating robust market engagement.</li>
</ul>
<p style="text-align: justify">The current market dynamics point to a resilient environment, with whale activities playing a pivotal role in shaping Bitcoin’s trajectory. These trends suggest a committed investor base and a potential for price increases as strategic buying continues.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/whales-boost-bitcoin-holdings-in-new-wallets" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Boost Bitcoin Holdings in New Wallets</a></h5>

Whales Boost Bitcoin Holdings in New Wallets

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