Large investors continue to actively accumulate bitcoins
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Johny Smith
2024/11/01
3 mins read
Whales have not stopped increasing their Bitcoin (BTC) reserves, despite relatively stable price dynamics. According to data provided by the CryptoQuant platform, institutional wallets, excluding miner vaults and exchanges, increased their holdings by more than 67 thousand BTC in the last 30 days, bringing their total holdings to more than 3.9 million digital coins.
This hoarding trend by large holders is also visible in the order books on major exchanges such as Coinbase and Bitfinex, where there is significant buying pressure. At the same time, platforms such as Binance and Bybit remain focused on short positions, which indicates some differences in the behavior of different types of bidders.
This contrast between the strategies of large and small investors may indicate the long-term confidence of whales in Bitcoin. While small holders are reducing their positions amid sideways price movements, whales see this as an opportunity for accumulation. This situation often leads to burnout among retail traders, who then return to the market at higher prices.
Positive funding rates, at their highest levels since August, suggest bullish sentiment is prevailing in the market. This is a clear indicator that the majority of active positions are currently long, which increases the potential for further price increases in the coming weeks.
Meanwhile, the increase in the balance sheet of large participants in the segment also highlights the interest of institutions in BTC as an asset class that can serve as a “protection” against macroeconomic instability. When traditional financial markets remain under pressure and interest rate uncertainty persists, Bitcoin is seen as an effective tool for diversification and capital preservation.
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