{"id":160849,"date":"2024-01-29T11:39:27","date_gmt":"2024-01-29T11:39:27","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=160849"},"modified":"2024-01-29T11:39:35","modified_gmt":"2024-01-29T11:39:35","slug":"surge-of-3-billion-in-bitcoin-whales-holdings-in-january-are-they-preparing-for-a-bull-run","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/surge-of-3-billion-in-bitcoin-whales-holdings-in-january-are-they-preparing-for-a-bull-run\/","title":{"rendered":"Surge of $3 Billion in Bitcoin Whales Holdings in January! Are They Preparing for a Bull Run?"},"content":{"rendered":"<p>TL;DR<\/p>\n<ul>\n<li><strong><span data-preserver-spaces=\"true\">Whales buy more Bitcoin<\/span><\/strong><span data-preserver-spaces=\"true\">: Large investors have increased their Bitcoin holdings by $3 billion in January.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Whales vs. smallholders<\/span><\/strong><span data-preserver-spaces=\"true\">: The accumulation behavior of whales contrasts with the selloff of short-term investors and some whales.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Whales expect higher prices<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: The whales\u2019 actions suggest they anticipate a long-term growth potential for Bitcoin.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\"><strong><a href=\"https:\/\/crypto-economy.com\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> whales, or large investors, have accumulated an additional $3 billion worth of Bitcoin (BTC) this month.<\/strong> This surge in holdings, equivalent to around 76,000 BTC, has brought the total amount of Bitcoin held in wallets owning over 1,000 BTC to nearly 7.8 million BTC, according to a <a href=\"https:\/\/app.intotheblock.com\/perspectives\/bitcoin_whales\" target=\"_blank\" rel=\"noopener\">report<\/a> from on-chain analytics firm IntoTheBlock.<\/span><br \/>\n<!--more--><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Despite the recent downturn in the market, there has been a notable increase in Bitcoin accumulation by whales. This trend suggests a behavioral divergence between these major players and smaller holders within the Bitcoin ecosystem. It appears that a significant number of these whales are capitalizing on the market dip to expand their Bitcoin portfolios.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\"><strong>The approval of spot <a href=\"https:\/\/crypto-economy.com\/bitcoin-etf\/\" target=\"_blank\" rel=\"noopener\">ETFs<\/a> in the US initially drove Bitcoin to a 20-month peak of $48,900.<\/strong> Yet, an unexpected sequence of events ensued as the digital currency experienced a price drop, plummeting to a low of $38,880 within a week. Despite anticipations, on-chain data indicates that the majority of the selloff stems from short-term investors and a handful of whales.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">During the market pullback, several large-scale investors seized the opportunity to acquire additional coins at low prices via the cryptocurrency exchange, Bitfinex.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Record High in Bitcoin Accumulation by Whales<\/span><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-160852\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/01\/BTCPrice-1.jpg\" alt=\"Surge of $3 Billion in Bitcoin Whales Holdings in January! Are They Preparing for a Bull Run?\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/01\/BTCPrice-1.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/01\/BTCPrice-1-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/01\/BTCPrice-1-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In January, the combined balance of Bitcoin whales witnessed an increase of 76,000, pushing the total close to 7.8 million BTC. <strong>This increase has driven the number of addresses with more than 1,000 BTC to reach a new record high.<\/strong> These signs suggest a unified attempt by significant participants to fortify their holdings, which could potentially sway the overall market sentiment within the Bitcoin ecosystem.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The current price of Bitcoin is oscillating around a slight resistance level of $42,000. Although there are short-term ambiguities, the long-term fundamental indicators suggest a growth potential. Economist Peter Schiff speculates on Bitcoin\u2019s capacity to surge to $10 million within the next decade, acting as a hedge against the devaluation of the US dollar.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The activities of <strong>whales are under constant scrutiny by the crypto community due to their potential to considerably sway price trends.<\/strong> The accumulation of assets by whales is often interpreted as a sign of perceived undervaluation and an expectation of significant price appreciation in the future.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">If the current trend continues, it could instill a positive sentiment across the wider Bitcoin investment market. Moreover, as the upcoming Bitcoin halving event draws closer, market analysts are predicting a price surge around this occurrence, which could further boost confidence within the community.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Whales buy more Bitcoin: Large investors have increased their Bitcoin holdings by $3 billion in January. Whales vs. smallholders: The accumulation behavior of whales contrasts with the selloff of short-term investors and some whales. Whales expect higher prices: The whales\u2019 actions suggest they anticipate a long-term growth potential for Bitcoin. Bitcoin whales, or large &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Surge of $3 Billion in Bitcoin Whales Holdings in January! Are They Preparing for a Bull Run?\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/surge-of-3-billion-in-bitcoin-whales-holdings-in-january-are-they-preparing-for-a-bull-run\/#more-160849\" aria-label=\"More on Surge of $3 Billion in Bitcoin Whales Holdings in January! Are They Preparing for a Bull Run?\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":160851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,84,74,9156],"tags":[4602,5536,4880],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/160849"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=160849"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/160849\/revisions"}],"predecessor-version":[{"id":160853,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/160849\/revisions\/160853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/160851"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=160849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=160849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=160849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}