Institutional Investors and Whales Rush for Bitcoin (BTC): A Competitive Buying Spree

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Recent fluctuations in Bitcoin prices have created a “buying at the bottom” opportunity for whales (large investors). Over the past 24 hours, whales have accumulated a significant amount of Bitcoin, around 47,000 BTC (approximately $2.8 billion).
This situation, according to CryptoQuant CEO Ki Young Ju, signals the “beginning of a new era” for Bitcoin.
Whales’ increased confidence and buying strategies indicate growing faith in Bitcoin’s future among institutional investors and high net worth individuals.

Bitcoin whales accumulate significant amounts amidst market fluctuations, signaling a new era for the cryptocurrency. This article explores the implications of this development for Bitcoin’s future.

Increasing Confidence and Buying Strategies of Whales

Whales accumulating BTC demonstrates growing confidence in Bitcoin’s future among institutional investors and high net worth individuals. CryptoQuant founder Ju explains that most of these accumulations occur in “custodial” wallets that mostly include ETFs, but the recent increase is not directly related to ETFs. To learn more about whales’ buying strategies, it’s important to pay attention to two key points:

Long-term Whales

A week ago, it was observed that long-term Bitcoin whales had experienced a significant increase in their actual profits as the price remained above $60,000. Despite increasing their profits, these whales had not sold their positions, demonstrating their long-term attitude and faith in Bitcoin.

Large Whale Investment

According to breaking news, a whale known as “Mr. 100” bought over 4,100 BTC at the $58,000 level on May 2. This was the whale’s first Bitcoin purchase since April 19 and is interpreted as a significant signal ahead of the 2024 Bitcoin halving.