Bitcoin Whales Maintain Strong Stance Through Market Volatility with $1.5 Billion Accumulation
Prominent Bitcoin investors, or "whales," have shown resilience amidst recent price fluctuations. Data from crypto analytics firm IntoTheBlock reveals that entities holding over 0.1% of the Bitcoin supply, valued at over $500 million, increased their holdings by $1.5 billion in the final two weeks of August. Notably, this accumulation coincided with minimal inflows into exchanges, indicating genuine buying interest. These strategic moves occurred during a period of price decline, with the largest haul after an August 17 drop. Analysts see Grayscale_s ETF progress as a catalyst, potentially broadening Bitcoin accessibility.
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Bitcoin Whales Maintain Strong Stance Through Market Volatility with $1.5 Billion Accumulation
Prominent Bitcoin investors, or "whales," have shown resilience amidst recent price fluctuations. Data from crypto analytics firm IntoTheBlock reveals that entities holding over 0.1% of the Bitcoin supply, valued at over $500 million, increased their holdings by $1.5 billion in the final two weeks of August. Notably, this accumulation coincided with minimal inflows into exchanges, indicating genuine buying interest. These strategic moves occurred during a period of price decline, with the largest haul after an August 17 drop. Analysts see Grayscale_s ETF progress as a catalyst, potentially broadening Bitcoin accessibility.