Large holders in the cryptocurrency market are reportedly increasing their investments in Bitcoin and Ethereum. Recent data indicates a noticeable rise in significant transactions, reflecting heightened institutional interest and shifting asset flows out of exchanges.

Whale Transactions on the Bitcoin Network Surge

On the Bitcoin network, whale activity has escalated, with crypto analyst Ali Martinez reporting transactions above $1 million reaching 6,311, the highest in the last two months. This surge occurred from October 26 to October 28.

Whale activity on the Bitcoin $BTC network is climbing, hitting a two-month high of 6,311 transactions exceeding $1 million each. Source: Twitter

As Bitcoin rises from approximately $106,000 to a peak of $116,000, it currently trades at $110,700, down 2% in the last day but showing gains over the past week. This rise followed a drop below $108,000 despite a recent rate cut announcement by the U.S. Federal Reserve.

In addition, data from CryptoQuant shows negative netflows in Bitcoin exchanges throughout October, indicating more withdrawals than deposits, often a sign of holders shifting assets to cold storage during accumulation periods.

Whales Boost ETH as Futures and Wallets Grow

Ethereum also demonstrates increased institutional activity, with CME Ethereum futures reaching 2.25 million contracts in open interest—a record high. This increase coincides with ETH’s gradual price recovery, climbing from below $1,400 to a current value of around $3,900, despite a recent drop of 3% in the last day.

BIG PLAYERS ARE COMING FOR $ETH!

Moreover, data suggests that Ethereum addresses with over 1,000 ETH are becoming increasingly active, while ETH reserves on exchanges have decreased by about 1 million coins since the end of September.

In summary, both Bitcoin and Ethereum are witnessing significant movements from large investors, suggesting a strategic buildup for forthcoming market shifts.