Changing Perceptions of Bitcoin Whale Activity
Cryptocurrency analyst Ki Young Ju, CEO of CryptoQuant, has highlighted evolving trends in Bitcoin whale transactions. Despite a 3.6% dip in Bitcoin’s price to $95,772, whales have continued to accumulate large amounts of Bitcoin. Ju remains optimistic, asserting that a further drop exceeding 30% is unlikely.
Bitcoin Whale Transactions : Retail Investors Retreat
Ju pointed out a shift in market dynamics, with retail investors retreating and whales gaining greater influence. What was once viewed as a disruptive activity is now accepted as a norm, with whales driving bullish market sentiment through weekly Bitcoin purchases totaling approximately $7 billion.
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Institutional Investors and Privacy Transactions
Major institutional players, including spot Bitcoin ETFs, MicroStrategy, and custodial wallets, have collectively acquired 1.55 million BTC this year. Ju also highlighted the use of privacy transactions by whales to transfer between 240,000 and 420,000 BTC to new institutional investors. These mysterious transactions raise questions about market ownership and influence.
