Bitcoin Whales Accumulated $11 Billion in BTC Within Two Weeks Amidst Market Optimism
Major investors are increasing their Bitcoin holdings, signaling confidence despite ongoing economic uncertainties.
Key Insights:
- Bitcoin whales are purchasing coins at the fastest rate since August 2024, according to data from Glassnode.
- Indicators such as the Bitcoin 1Y+ HOLD wave show a renewed trend, suggesting a shift towards holding rather than trading.
Despite macroeconomic challenges and technical market indicators causing hesitations about Bitcoin’s recent surge, large-scale investors are expressing optimism.
Since March 11, Bitcoin whales have acquired over 129,000 BTC, which amounts to $11.2 billion at a current price of $87,500. This represents a notable accumulation rate last seen in August 2024, implying a growing trust in Bitcoin’s future, as noted by Glassnode.
BTC has shown resilience, recovering from lows below $78,000 just two weeks ago. This rebound is driven by softer statements from the Federal Reserve and expectations that the upcoming tariffs from Trump will not be as severe as previously feared.
Glassnode also reported that addresses holding over 10,000 BTC are compensating for ongoing sales from smaller holders, reflecting a shift in market dynamics.
Other metrics, like the ‘Bitcoin 1Y+ HOLD wave’, tracked by Bitbo Charts, demonstrate a positive trend that reinforces a longer-term holding approach, as highlighted in Wednesday’s Crypto Daybook Americas.
