Bitcoin whales load up on $1.2 billion in BTC as ETFs attract $750 million
Bitcoin whales and institutional investors via spot ETFs have significantly increased their holdings, accumulating over $1.9 billion in BTC since late July. Despite this heavy buying, the asset's price remains stagnant, suggesting that current market participants are acting with tactical caution rather than long-term conviction.
Blockchain data tracked by Santiment shows that whales and sharks, or wallets holding 10 BTC to 10,000 BTC, have accumulated over 20,000 BTC, worth $1.2 billion at the ongoing market price, since July 29. The accumulation has happened in a narrow price range below $65,000 where the market has been trading choppily lately.
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in