On June 24th, Bitcoin whales demonstrated their influence by accumulating a staggering $436 million worth of BTC.
According to data from @intotheblock, holders who control at least 0.1% of the total Bitcoin supply increased their holdings by 7,130 BTC in a single day as Bitcoin’s price briefly dipped below $60,000. This significant accumulation highlights the strategic moves of major holders during market fluctuations.
Bitcoin whales accumulated $436M worth of $BTC in a day!
-> According to @intotheblock data, holders with control of at least 0.1% of the total #Bitcoin supply increased their holdings by 7,130 $BTC in a single day (June 24th) as Bitcoin’s price briefly tumbled below $60K pic.twitter.com/bsTsPYSkvY
— CryptoPotato Official (@Crypto_Potato) June 26, 2024
In parallel, the US Government made a notable move by transferring another 3,940 BTC, equivalent to $241 million, to Coinbase Prime approximately nine hours ago.
This follows their previous transfer of 2,000 BTC ($131 million) to Coinbase Prime on April 3, 2024, which did not have an immediate impact on Bitcoin’s spot price. The US Government currently holds around 213,500 BTC, valued at approximately $13 billion.
The US Government moved another 3,940 $BTC ($241M) to #Coinbase Prime ~9 hours ago.
Their last move was sending 2K $BTC ($131M) to Coinbase Prime on Apr 3, 2024, but it did not directly affect the BTC spot price.
Currently, the US Government holds around 213.5K $BTC ($13B).… pic.twitter.com/WszoKCJK95
— Spot On Chain (@spotonchain) June 27, 2024
Bitcoin ETFs Net Inflow Remains Positive
On Bitcoin ETFs, the net inflow on June 26, 2024, summed up to $21 million. While the net inflow remains positive, it is relatively small. Grayscale’s GBTC saw its first inflow of $4.3 million after experiencing 13 days of outflows. However, BlackRock’s IBIT ETF witnessed stagnant single-day flows for the eighth consecutive day.
🚨 $BTC #ETF Net Inflow June 26, 2024: +$21M!
• The net inflow remains positive but small.
• #Grayscale (GBTC) saw the first inflow of $4.3M after 13 days of outflows.
• The single-day flow of #BlackRock (IBIT) continued to be stagnant for the 8th day.
Follow @spotonchain… pic.twitter.com/9zCAONjbAx
— Spot On Chain (@spotonchain) June 27, 2024
These movements underscore the continued interest and strategic positioning in Bitcoin by both institutional investors and government entities. The actions of Bitcoin whales, combined with the ETF inflows, suggest a cautiously optimistic outlook for Bitcoin’s future, even amidst short-term price fluctuations.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!