An Influx of Bitcoin from Whales: They're Snatching!

Recent fluctuations in the price of Bitcoin have created a "buy the dip" opportunity for whales (large investors). Over the past 24 hours, whales have accumulated a significant amount of Bitcoin of 47,000 BTC (about $2.8 billion). This, according to CryptoQuant CEO Ki Young Ju, marks the "beginning of a new era" for Bitcoin.

Increased confidence of whales and buying strategies

The fact that whales are accumulating BTC indicates growing confidence in the future of Bitcoin among institutional investors and high-net-worth individuals. Ju, the founder of CryptoQuant, explains that these accumulations are mostly in "custodial" wallets containing ETF, but the recent increase is not directly related to ETF. To learn more about whales' buying strategies, it is necessary to pay attention to two important points:

• Long-term whales: A week ago, long term Bitcoin whales appeared to have experienced a significant increase in their actual profits, with the price remaining above $60,000. Although these whales increased their profits, they did not sell their positions, which shows their long term attitude and faith in Bitcoin.
• Big whale investment: According to breaking news, a whale known as "Mr. 100" bought more than BTC 4,100 Bitcoin at the $58,000 level on May 2. This is the whale's first Bitcoin buying since April 19 and is interpreted as an important signal ahead of the 2024 Bitcoin halving.

#Bitcoin whales accumulated 47K $BTC in the past 24 hours. We're entering a new era. pic.twitter.com/SXgzToN8GU

— Ki Young Ju (@ki_young_ju) May 3, 2024

Huge investment in BlackRock Spot Bitcoin ETF

Hong Kong-based investment advisory firm Yong Rong HK Asset Management has become the largest investor, investing $38 million in IBIT, BlackRock's spot Bitcoin exchange mutual fund (ETF). This investment was a remarkable move, enabling Yong Rong to acquire more than 12% of the reported assets in IBIT. Commenting on this investment, Bloomberg analyst Eric Balchunas explains the Hong Kong-based company's decision to focus on US-based ETF rather than its spot Bitcoin ETF in its home country on the grounds of "cheaper and higher volume".

The interest of whales and institutional investors in Bitcoin can significantly impact the cryptocurrency's price and overall market perception. Recent developments show that belief in Bitcoin's long term potential and adoption by institutional investors is increasing. It's important to note that the price of Bitcoin can still fluctuate, and it's important to do detailed research before investing. Investments by whales and institutional investors do not always guarantee profits. It is important for investors to do their own research, assess the risks and determine their investment strategies accordingly.

New high water more bitcoin ETF holders just rolled in: Yong Rong Asset Management based in HK bought $38m worth of $IBIT, which makes up 12% of its reported holdings. Interesting given HK has its own ETFs now. But US ETFs have that irresistable combo of low fee and high volume. pic.twitter.com/FE2gyuIuIf

— Eric Balchunas (@EricBalchunas) May 3, 2024

As Kriptokoin.com reported, recent whale movements and massive investment from BlackRock show that interest and adoption of Bitcoin is on the rise. This can be interpreted as a promising sign of Bitcoin's long term potential. However, it is important for investors to do their own research and assess the risks before making any investment decisions.

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