As a seasoned researcher with over two decades of experience in financial markets, I’ve seen my fair share of market fluctuations, bull runs, and bearish corrections. However, the recent accumulation of Bitcoin by these whales on Binance is something that has piqued my interest.
Two significant investors, often referred to as “Bitcoin whales,” have amassed approximately $140 million in Bitcoin (BTC) from the prominent crypto exchange Binance. This move comes following a minor price adjustment in BTC after it reached a record peak.
Based on figures provided by Spot On Chain, it’s been reported that a large Bitcoin investor (often referred to as a ‘whale’) recently withdrew 1,225 BTC, equivalent to approximately $92.2 million at the time of withdrawal when the price was around $75,200. This action has increased their total BTC holdings to 1,775 BTC, now valued at roughly $133 million. As a result, this whale currently has an unrealized profit of approximately $2.56 million.
The second whale withdrew 671.74 BTC from the leading cryptocurrency exchange at around $75,080, to have over $50 million on their wallet.
Currently, Bitcoin is being traded at approximately $76,000, having reached a fresh record high close to $77,000 before experiencing a minor downturn. Its value has surged following the victory of Donald Trump in the 2016 U.S. presidential elections, with prices increasing thereafter.
It was generally anticipated that a win by Donald Trump would potentially increase Bitcoin’s value, considering his vocal advocacy for the cryptocurrency industry. This could be due to a more favorable regulatory environment emerging as a result of reduced regulatory uncertainty and the appointment of pro-cryptocurrency figures to influential roles.
As an analyst, I’ve observed a pattern where Bitcoin’s price tends to surge following U.S. presidential elections. For instance, following the 2012, 2016, and 2020 elections, Bitcoin saw impressive returns of approximately 87%, 44%, and 145% respectively over a 90-day period.
As a researcher studying the cryptocurrency market, I’ve noticed an extraordinary surge in investment towards Bitcoin exchange-traded funds (ETFs) recently. In a single day, these ETFs attracted a whopping $1.38 billion, a record high. Among them, BlackRock’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), accounted for approximately 81% of this influx, amassing a significant $1.11 billion in net investments. This is significantly more than its closest competitor, the Fidelity Wise Origin Bitcoin Fund (FBTC), which managed to attract $190 million in investments on the same day.
On November 7th, the Ark 21 Bitcoin ETF (ARKB) ranked third with an inflow of approximately $17.6 million. Notably, no exchange-traded fund focused on spot Bitcoin experienced outflows that day. The data indicates that the total inflows for these spot Bitcoin ETFs now amount to a substantial $25.57 billion.
Read More
- SOL PREDICTION. SOL cryptocurrency
- SUI PREDICTION. SUI cryptocurrency
- Chainsaw Man Chapter 183: Flashback To See Aki And Power Return; Release Date, Where To Read, Expected Plot And More
- UXLINK PREDICTION. UXLINK cryptocurrency
- ‘The Case Book of Arne’ Video Game to Receive Anime Adaptation
- USD MYR PREDICTION
- DOT PREDICTION. DOT cryptocurrency
- SKL PREDICTION. SKL cryptocurrency
- CHR PREDICTION. CHR cryptocurrency
- COS PREDICTION. COS cryptocurrency
2024-11-08 18:55