-->New data shows us that the largest bitcoin whales are currently extremely bullish about the digital currency. According to the on-chain analysis platform Santiment, whales with between 1,000 and 10,000 bitcoin in their wallets are currently raking in huge amounts of bitcoin.

Big whales are aggressively purchasing bitcoin

Whales with between 1,000 and 10,000 bitcoin in their wallets bought $12.95 billion worth of bitcoin from the market in 2024. Unfortunately, wallets with 100 to 1,000 bitcoins have already lost a total of $7.89 billion worth of bitcoin.

Although there is of course a chance that wallets climbed over the 1,000 bitcoin limit and therefore ended up in the 1,000 to 10,000 bitcoin category.

According to Santiment, we don’t have to worry in any case, because the larger bitcoin whales are currently accumulating faster than the smaller whales are selling.

Santiment also notes that the number of bitcoin transactions with a dollar value of $100,000 or more saw a sudden spike after the bitcoin price rose above $50,000.

Who are these whales?

There is of course a chance that the whales in question are the Spot Bitcoin ETFs. For example, the Spot Bitcoin ETFs bought 44,774 bitcoin from the market last week alone. This also includes Grayscale’s sales.

That doesn’t change the fact that it is impressive. If ETFs continue at half this pace through 2024, it could mean fantastic things for the stock.

There is a chance of this, because the ETF issuers are all trying to advertise bitcoin in their own way. For example, the above advertisement is from the large BlackRock, which is the most successful as a Bitcoin ETF issuer to date.

BlackRock already raised more than 120,000 bitcoin during the first weeks of trading.

Another notable whale that seems to be buying big at the moment is โ€œMr. 100โ€ which is followed by HODL15capital. Mr. 100 buys 100 bitcoin from the market almost every day. Who could this gigantic whale be?

Source: https://bitcoinmagazine.nl/nieuws/grootste-bitcoin-whales-kochten-voor-13-miljard-aan-btc-in-2024

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