Crypto News

Crypto Whales Navigate Mixed Signals Amid Market Fluctuations, Top BTC Whales Accumulate More Bitcoins

Whale activity has been a mixed bag lately, with some whales opting to buy while others choose to sell, all in pursuit of capitalizing on recent market movements.

Among the largest cohort of whales, those holding between 1,000 and 100,000 BTC, there’s a discernible trend of accumulation, typically associated with bullish market sentiment.

These significant holders appear optimistic about the market’s potential for further growth, as evidenced by their increased purchases when Bitcoin surpassed the $46,000 mark, a trend that began around the $29,000 range.

Interestingly, the number of Bitcoin wallets holding more than 0 BTC has decreased by 729.4K compared to a month ago.

This decline coincides with the SEC’s approval of 11 Spot Bitcoin ETFs, signaling a shift in interest among hodlers who are now seeking exposure through ETFs rather than direct ownership.

$51K Has Turned A Critical Level For Bitcoin Following Whales Selling Over 30,000 BTC

According to insights from @santimentfeed, whales have offloaded over 30,000 BTC in the past 48 hours, shedding light on the ongoing dynamics within the market.

Analysts are closely monitoring the $51,500 support zone, which has emerged as a critical level for Bitcoin. 

Sustained trading above this threshold could pave the way for further upward momentum, potentially pushing Bitcoin towards the $57,000 mark.

Recent updates from Grayscale reveal a decrease of 2,977 BTC ($152.4M) in their holdings as of February 21. On the other hand, eight ETFs collectively added 4,386 BTC ($224.6M) to their portfolios, with iShares (Blackrock) contributing 2,962 BTC ($151.7M) to this inflow.

As the cryptocurrency market continues to evolve, whale activity serves as a key barometer of investor sentiment and market trends, offering valuable insights into the ever-changing landscape of digital assets.

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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