In the last five months, Bitcoin wallets holding at least 10 BTC have seen a significant increase in their holdings. According to analysis from Santimentfeed, these wallets have collectively acquired an additional 154,560 BTC.
Historically, such accumulation by large BTC holders often precedes a bullish market phase, as it indicates growing confidence among significant investors.
Bitcoin sharks and whales are increasing!
-> According to @santimentfeed analysis, #Bitcoin wallets containing at least 10 $BTC have bought 154,560 more $BTC within the last 5 months
-> Typically, when large BTC holders accumulate more, it tends to precede a bullish market phase pic.twitter.com/CFwlB02ywa— CryptoPotato Official (@Crypto_Potato) May 30, 2024
This trend aligns with recent data showing a substantial shift in Bitcoin holdings, reflecting increased interest from institutional investors. Notably, BlackRock has surpassed Grayscale in the amount of BTC held.
As per their official reports, BlackRock now holds 289,035 BTC (valued at approximately $19.5 billion), compared to Grayscale’s 287,443 BTC ($19.3 billion). This shift underscores the growing institutional adoption of Bitcoin, suggesting a potential bullish outlook.
According to the official website, the amount of $BTC held by #Blackrock has exceeded that of #Grayscale!#Blackrock holds 289,035 $BTC($19.5B) and #Grayscale holds 287,443 $BTC($19.3B).https://t.co/kqNUqHAL3Phttps://t.co/JA8bW5rex3 pic.twitter.com/JobnhOnEg3
— Lookonchain (@lookonchain) May 30, 2024
Bitcoin ETF Net Inflow Hits $49 Million Addition On May 30th
Furthermore, the Bitcoin ETF market has shown positive net inflows, with a cumulative $49 million added on May 30, 2024. This marks 13 consecutive trading days of positive inflows, the longest streak since February 20. However, individual fund performances have varied.
ARK BTC ETF (ARKB) experienced its largest single-day outflow since inception, while BlackRock’s IBIT saw its single-day inflow drop to $1.6 million. Meanwhile, Grayscale’s GBTC had zero flow following two days of significant outflows.
🚨 $BTC #ETF Net Inflow May 30, 2024: +$49M!
• The net inflow has been positive for 13 consecutive trading days, the longest streak since Feb 20.
• #ARK BTC ETF (ARKB) just experienced the largest single-day outflow since its inception.
• #BlackRock (IBIT)'s single-day… pic.twitter.com/KlZehXNOUb
— Spot On Chain (@spotonchain) May 31, 2024
These dynamics indicate a complex market environment where institutional interest is growing, yet individual fund activities are volatile. Investors should monitor these trends closely as they could herald significant price movements in the near future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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