Key Points
- Bitcoin whales have increased their holdings, considering the current price as a buying opportunity.
- These accumulations and the increased demand from STHs indicate potential for a new all-time high for Bitcoin.
Bitcoin Whales Increase Holdings
Bitcoin whales are taking advantage of the current market situation by increasing their holdings. This is seen as a reaction to the current market prices, which they view as a dip. This accumulation is noteworthy as it represents 9.3% of Bitcoin’s total supply, indicating significant institutional buying through self-custodial services.
This massive accumulation excludes miners and exchange wallets, which means more individual wallets are becoming Bitcoin whales. This trend is particularly significant as Bitcoin approaches a key psychological level. The aggressive buying by Bitcoin whales could suggest the current price as a potential market bottom.
STHs Also Targeting the Dip
In addition to Bitcoin whales, there has been a notable increase in demand for Bitcoin from Short-Term Holders (STHs). This is significant as STHs typically sell their holdings when Bitcoin reaches a market top, creating resistance as they cash out on gains.
However, the current increase in demand from both STHs and Bitcoin whales suggests that they view the current price as a dip, positioning themselves for potential 10x returns. As a result, market indicators suggest that Bitcoin may be on the cusp of a parabolic run, potentially leading to a new all-time high before this cycle ends.
This trend reflects the growing maturity of the market, showing that investors no longer view Bitcoin as a speculative gamble.
