{"id":12732,"date":"2024-02-19T18:30:50","date_gmt":"2024-02-19T18:30:50","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=12732"},"modified":"2024-02-19T13:04:51","modified_gmt":"2024-02-19T13:04:51","slug":"bitcoin-whales-go-on-buying-spree","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-whales-go-on-buying-spree\/","title":{"rendered":"Bitcoin Whales Go on Buying Spree"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:119\">Bitcoin&#8217;s recent surge has been fueled by several factors, including growing excitement around upcoming BTC ETFs. But a closer look reveals another key player: the whales.<\/p>\n<h2 data-sourcepos=\"5:1-5:47\"><span style=\"font-size: 75%;\">Bitcoin Whales Accumulate, But Sharks Take Profits<\/span><\/h2>\n<p>A recent Santiment analysis shows wallets holding 1k to 10k BTC have amassed a whopping 248.9k BTC in 2024, translating to $12.95 billion. However, wallets with 100 to 1k BTC have been selling off, dumping 151.2k coins or $7.89 billion worth in the same period. Highlighting this contrasting behavior,\u00a0whale transactions exceeding $100k reached <strong>their highest level since June 2022 in the past five days.<\/strong><\/p>\n<p>Whales, confident in Bitcoin&#8217;s long-term potential, are accumulating while &#8220;<strong>sharks<\/strong>&#8221; seem to be taking profits, anticipating a possible retracement. Declining exchange reserves (from 2.106 million BTC to 2.068 million <a href=\"https:\/\/coinengineer.net\/blog\/btc-yen-pair-hits-ath\/\" target=\"_blank\" rel=\"noopener\">BTC<\/a>) further suggest buying pressure exceeding selling pressure.<\/p>\n<p>The rising stablecoin supply ratio indicates their buying power decreasing, <strong>hinting at potential bearishness for Bitcoin<\/strong>. With Bitcoin currently at a key resistance zone around $52k,\u00a0expect some price swings in the near future.<\/p>\n<p>While whale accumulation suggests optimism,\u00a0short-term volatility is likely.\u00a0The interplay between whale behavior,\u00a0changing market sentiment,\u00a0and technical indicators <strong>will paint a clearer picture of Bitcoin&#8217;s next move.<\/strong><\/p>\n<hr \/>\n<div>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also share your thoughts on the topic in the comments. Besides, don\u2019t forget to follow us on\u00a0<\/em><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineer\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong><\/a>,\u00a0<em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/CoinEngineer\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>, and\u00a0<\/em><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"> for more analysis and updates.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s recent surge has been fueled by several factors, including growing excitement around upcoming BTC ETFs. But a closer look reveals another key player: the whales. Bitcoin Whales Accumulate, But Sharks Take Profits A recent Santiment analysis shows wallets holding 1k to 10k BTC have amassed a whopping 248.9k BTC in 2024, translating to $12.95<\/p>\n","protected":false},"author":1,"featured_media":12733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,4494],"class_list":["post-12732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bitcoin-whales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Whales Go on Buying Spree - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin&#039;s recent surge has been fueled by several factors, including growing excitement around upcoming BTC ETFs. 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