• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Picture of a bitcoin in front of a blue market chart

Bitcoin Whales Accumulation Patterns Shows Strong Bullish Sentiment Among Top Holders

Best Owie by Best Owie
1 year ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Whales have not stopped accumulating bitcoin. Current trend patterns suggest that bitcoin whales who hold between 100 to 1,000 BTC remain very bullish on the digital asset’s prospects. The slow month of September had seen the asset suffer dips and crashes which brought the price down to the $40K trading range. However, whales had used this as an opportunity to increase their holdings at a low price.

Bitcoin wallets holding between 100 and 1,000 had continued to add to their balance and by the end of September, these wallets had accumulated a collective total of 85.7K BTC. In today’s prices, this amount would total $4.76 worth of BTC accumulated by whales while retail investors panicked sold their holdings. These whale addresses have also held on their bags through the long-suffering month of September.

Whales Increase Their Hold On Circulating Supply

As bitcoin whales accumulate more coins, the amount of the total circulating supply of bitcoin that they hold has also increased. Current numbers put the total supply of BTC held by these whale wallets at 21.3% of the total circulating supply of the asset. This number represents a new record for wallets holding between 100 and 1,000 BTC on their balances.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Related Reading | Number Of Bitcoin Active Entities Grows 19% To Hit 2020 Bull Levels, Set Up For New Highs?

In addition to buying, whales are also holding. 2021 marked a record number of diamond hands (long-term holders) in bitcoin. A reported 81% of the total BTC supply has not moved in the last three months. This metric shows that the digital asset may be heading into a supply shock.

The amount of BTC leaving exchanges outpaces the number of coins moving in, suggesting that investors are accumulating their assets and moving them to safer personal storage options.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Bitcoin Price Recovers From Tuesday’s Dip

Bitcoin price had fallen below the $54K on Tuesday night after the price of the digital asset had moved close to $58K during the day. This was attributed to traders cashing in some gains after the asset had hit its new four-month high. However, the asset had begun to recover about an hour after the dip and touched north of $56K in the early morning of Wednesday before trickling back down again.

Bitcoin (BTC) price chart from TradingView.com

BTC price recovers to trade north of $57K | Source: BTCUSD on TradingView.com

As midweek trading opens up, bitcoin has begun to see renewed recovery vigor. The price had dipped again to $54K, albeit a higher low this time than was seen in the late Tuesday dip. With whales filling up their bags and strong hold sentiment among investors, the asset looks poised to make another break towards $57K.

Related Reading | Bitcoin Over $100,000 Is Still Possible By Year-End, Says Research Analyst

Bitcoin is down 3.78% in the last 24 hours to be trading at $55,048 at the time of this writing. Trading volume is up in the same time period, but the price dip saw a 3.90% loss in the market cap, which is still holding steady above $1 trillion.

Featured image from Xycinews, chart from TradingView.com
Tags: bitcoinbitcoin accumulationBitcoin whalesbtcbtcusdBTCUSDTxbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

1 day ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

2 days ago
bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

2 days ago
Bitcoin

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

3 days ago
Bitcoin crypto liquidations

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

3 days ago
Nigerians buying bitcoin

Are Nigerians Really Buying Bitcoin For As High As $34,000?

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Big Eyes Coin Presale Crosses $22 Million Mark, Indonesia Plans Launch of Crypto Exchange in June

February 5, 2023

Presenting LYOPAY Pro – An Innovative Payment App Connecting Traditional Finance with Digital Currency

February 5, 2023

Dogecoin (DOGE) And Fantom (FTM) Make Appreciable Profits As Orbeon Protocol (ORBN) Moves Closer To 700%

February 5, 2023

Monero (XMR) and Dogecoin (DOGE) are Popular Twitter Crypto Recommendations. Here’s Why Savvy Investors Choose Snowfall Protocol (SNW) Instead

February 5, 2023

Price Predictions for Polygon (MATIC), Uniswap (UNI), and Snowfall Protocol (SNW) for 2023 – 2030

February 5, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.