{"id":25073,"date":"2024-07-15T20:00:42","date_gmt":"2024-07-15T17:00:42","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25073"},"modified":"2024-07-15T12:59:05","modified_gmt":"2024-07-15T09:59:05","slug":"bitcoin-whales-stack-71000-btc-during-market-dip","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-whales-stack-71000-btc-during-market-dip\/","title":{"rendered":"Bitcoin Whales Stack 71,000 BTC During Market Dip"},"content":{"rendered":"<p>Making full use of the latest crypto market downturn, <strong>Bitcoin<\/strong> <strong>whales<\/strong> amassed <strong>71,000 Bitcoin<\/strong> at the quickest pace of Bitcoin stacking since April 2023. Based to bitcoin analytics company IntoTheBlock, this accumulation\u2014worth $4.3 billion at current prices\u2014occurred when Bitcoin dropped down to $54,200 on July 5.<\/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-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-stack-71000-btc-during-market-dip\/#Whale_Activity_and_Market_Opinion\" title=\"Whale Activity and Market Opinion\">Whale Activity and Market Opinion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-whales-stack-71000-btc-during-market-dip\/#Dormant_Whale_Activity_and_Market_Impact\" title=\"Dormant Whale Activity and Market Impact\">Dormant Whale Activity and Market Impact<\/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-stack-71000-btc-during-market-dip\/#Signs_of_Recovery_and_Market_Events\" title=\"Signs of Recovery and Market Events\">Signs of Recovery and Market Events<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Whale_Activity_and_Market_Opinion\"><\/span>Whale Activity and Market Opinion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shortly after several US local banks failed in April 2023, CryptoQuant observes that <strong>Bitcoin<\/strong> whales have been piling coins at the quickest pace on a 30-day moving average. &#8220;<em>This suggests that the bottoming out of #BTC may be nearly complete<\/em>&#8221; said cryptoQuant analyst Minkyu Woo in a recent post on X (previously Twitter).<\/p>\n<p>Concurrent with this, smaller traders have been selling off their holdings during the current downturn, claims bitcoin analytics company Santiment. Over the first ten days of July, the company saw a net rise of 261 Bitcoin wallets carrying at least 10 Bitcoin, suggesting long-term positive attitude among certain traders. &#8221; [This] should give traders comfort in a long-term bullish future,&#8221; Santiment said.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dormant_Whale_Activity_and_Market_Impact\"><\/span>Dormant Whale Activity and Market Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Though whales are accumulating, not all of them want to hang their possessions. Whale Alert reports that a dormant Bitcoin whale, idle for 12 years, moved 1,000 Bitcoin valued about $60 million to two fresh wallets on July 14.<\/p>\n<p>Down 8.1% over the last month, <strong>Bitcoin<\/strong> is trading at $62,752 now. The price drop has been ascribed to things like <strong>Mt. Gox<\/strong> getting ready to dump $8 billion to its creditors and the German government selling about 50,000 Bitcoin valued $3 billion.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Signs_of_Recovery_and_Market_Events\"><\/span>Signs of Recovery and Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>But during the weekend, <strong>Bitcoin<\/strong> showed indications of recovery, surpassing the $60,000 barrier and rising 6% since Friday&#8217;s closing of trading hours. This sudden rise matched US presidential candidate Donald Trump&#8217;s survival of an assassination attempt at a July 13 event in Butler, Pennsylvania.<\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Making full use of the latest crypto market downturn, Bitcoin whales amassed 71,000 Bitcoin at the quickest pace of Bitcoin stacking since April 2023. Based to bitcoin analytics company IntoTheBlock, this accumulation\u2014worth $4.3 billion at current prices\u2014occurred when Bitcoin dropped down to $54,200 on July 5. Whale Activity and Market Opinion Shortly after several US<\/p>\n","protected":false},"author":6,"featured_media":22736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[61,4494],"class_list":["post-25073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-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 Stack 71,000 BTC During Market Dip - 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-stack-71000-btc-during-market-dip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Whales Stack 71,000 BTC During Market Dip - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Making full use of the latest crypto market downturn, Bitcoin whales amassed 71,000 Bitcoin at the quickest pace of Bitcoin stacking since April 2023. 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