{"id":22735,"date":"2024-06-13T13:00:31","date_gmt":"2024-06-13T10:00:31","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22735"},"modified":"2024-06-13T09:47:39","modified_gmt":"2024-06-13T06:47:39","slug":"bitcoin-whales-accumulate-1-38-billion","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-whales-accumulate-1-38-billion\/","title":{"rendered":"Bitcoin Whales Accumulate $1.38 Billion Amid Price Slump"},"content":{"rendered":"<p>Using the price dip earlier this week on June 11, <strong>Bitcoin whales<\/strong> seized full opportunity and accumulated a total of 20,600 BTC valued at $1.38 billion on the day. Blockchain analytics company CryptoQuant claims that since February 28, when spot Bitcoin exchange-traded funds were just six weeks old, BTC was reaching a new all-time high, and this represented the biggest inflow day for Bitcoin whales.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-accumulate-1-38-billion\/#The_Biggest_Bitcoin_Whales_Since_February\" title=\"The Biggest Bitcoin Whales Since February\">The Biggest Bitcoin Whales Since February<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-accumulate-1-38-billion\/#Lowering_Bitcoin_Reserves_Strengthening_the_Market\" title=\"Lowering Bitcoin Reserves: Strengthening the Market\">Lowering Bitcoin Reserves: Strengthening the Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-accumulate-1-38-billion\/#Comparative_Patterns_in_Ethereum_and_Bitcoin_Whale_Activity\" title=\"Comparative Patterns in Ethereum and Bitcoin Whale Activity\">Comparative Patterns in Ethereum and Bitcoin Whale Activity<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"The_Biggest_Bitcoin_Whales_Since_February\"><\/span>The Biggest Bitcoin Whales Since February<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>As <strong>Bitcoin<\/strong> dropped from $71,650 on June 7 to roughly $69,000, daily intakes into <strong>Bitcoin Whale<\/strong> accounts ranged between 1,300 and 2,200 Bitcoin. Days later, the price dropped once further, and on June 11, a huge day with 20,600 bitcoins moving into whale accumulation addresses occurred. The information hasn&#8217;t yet been updated since June 12, when Bitcoin&#8217;s price momentarily surged following better-than-expected CPI numbers. At the time of writing, the price of Bitcoin is currently at $67,500.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lowering_Bitcoin_Reserves_Strengthening_the_Market\"><\/span>Lowering Bitcoin Reserves: Strengthening the Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Onchain intelligence platform Santiment reports that the increase in whale behavior matches the declining supply of Bitcoin on cryptocurrency exchanges to 942,000\u2014its lowest level since December 22, 2021. Declining <strong>Bitcoin<\/strong> reserves usually point to a rising market where investors expect increasing price movement over the mid- to long-term.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/federal-reserve-holds-rates-steady-amid-inflation\/\"><em><span style=\"font-weight: 400\">This Might Interest You:\u00a0<\/span>Federal Reserve Holds Rates Steady Amid Inflation Concerns<\/em><\/a><\/p>\n<p>CoinGecko reports that Bitcoin is still down 8.45% from its all-time high price of $73,737 reached on March 13.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Comparative_Patterns_in_Ethereum_and_Bitcoin_Whale_Activity\"><\/span>Comparative Patterns in Ethereum and Bitcoin Whale Activity<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Ethereum<\/strong> whales were clearly active, just as Bitcoin whales were gathering. Based on Santiment data, industry researcher Ali Martinez claims that Ethereum whales have purchased approximately 240,000 ETH\u00a0 valued at around $840 million at current pricing. But unlike Bitcoin, Santiment observed that the quantity of Ethereum on cryptocurrency exchanges has grown lately.<\/p>\n<p>Santiment data shows that 17.98 million Ethers (valued at $63.1 billion) are presently kept on cryptocurrency exchanges. From $3,815 on June 7 to $3,510 at the time of writing, ether is down 8%.<\/p>\n<p>These divergent tendencies in Bitcoin and Ethereum whale activity draw attention to the dynamic character of the cryptocurrency market, in which several assets might show diverse patterns of accumulation and distribution.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><em><span style=\"font-weight: 400\">Click here to get the latest news from Coin Engineer!\u00a0<\/span><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Using the price dip earlier this week on June 11, Bitcoin whales seized full opportunity and accumulated a total of 20,600 BTC valued at $1.38 billion on the day. Blockchain analytics company CryptoQuant claims that since February 28, when spot Bitcoin exchange-traded funds were just six weeks old, BTC was reaching a new all-time high,<\/p>\n","protected":false},"author":6,"featured_media":22736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9,1,7],"tags":[6809,4494,6808],"class_list":["post-22735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-crypto-news","category-genel","category-market-analysis","tag-bitcoin-reserves","tag-bitcoin-whales","tag-ethereum-whales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Whales Accumulate $1.38 Billion Amid Price Slump - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-accumulate-1-38-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Whales Accumulate $1.38 Billion Amid Price Slump - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Using the price dip earlier this week on June 11, Bitcoin whales seized full opportunity and accumulated a total of 20,600 BTC valued at $1.38 billion on the day. 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