World Crypto Global Official Site | bitcoin sharks

Author: Keshav Verma

Ethereum Whales Sell, But Bitcoins Key Investors Are Buying

On-chain data shows the Ethereum whales have sold the asset recently, while key holders on the Bitcoin network have accumulated instead. Ethereum Whales Have Sold Into The Latest Rally As explained by analyst Ali Martinez in a new post on X, the Ethereum whales have participated in selling recently. The “whales” here refer to the ETH entities holding between 1,000 and 10,000 ETH. At the current exchange rate, this range converts to $1.8 million to $18 million. While these bounds don’t cover the largest of holders in the sector, they do still contain some of the key investors. Related Reading: Bitcoin Holders Realizing $139 Million In Profit Per Hour This Rally, Report Says Here is the chart shared by the analyst that shows the trend in the combined balance of these Ethereum whales over the over the past ten days or so: As displayed in the above graph, the Ethereum whales have seen their supply go through a net decline recently. During this selloff, these investors offloaded more than 63,000 ETH (about $113.5 million) inside a 48-hour window. From the chart, it’s visible that the distribution from this cohort has coincided with ETH’s recovery rally. This could indicate that these large investors have been capitalizing on the profit-taking opportunity. While the key investors of ETH may have taken profits, the same isn’t true for that of BTC. As the on-chain analytics firm Santiment has discussed in an X post, the trend has been that of accumulation for BTC recently. In the chart, the analytics firm has attached the data related to the supply of the Bitcoin holders carrying between 10 ($946,000) and 10,000 BTC ($946 million). This range is broader than the one for ETH and includes two key investor cohorts: sharks and whales. These investors have collectively added a total of 19,255 BTC to their wallets alongside the price rally. Thus, it would appear that the key holders of the cryptocurrency are supportive of the recovery run. Related Reading: Litecoin Conviction Remains Strong: More Than 20% Of Supply Frozen Since 5+ Years Naturally, this could imply the Bitcoin rally may have more chances of being sustainable than the Ethereum one. That said, things can change quickly in the digital asset sector, so the trend related to the large entities of both might be worth keeping an eye on. Speaking of accumulation, BTC is currently witnessing high inflows into the spot exchange-traded funds (ETFs), as Santiment has pointed out in another X post. From the chart, it’s visible that the recent ETF inflows are the largest in months. As the analytics firm notes, As Bitcoin has recovered as high as $95.8K today, we are seeing the highest week of net inflows to BTC ETF’s since the week before Trump’s inauguration in mid-January. Institutions like Blackrock have played a large part in the crypto-wide bounce traders were waiting for. ETH Price At the time of writing, Ethereum is trading around $1,800, up more than 12% in the last week. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Bitcoin Sharks Continue Accumulation, But Whales Stagnate

Author: Hououin Kyouma

United Kingdom

Source: NewsBTC

Jul 24, 2023 04:45

Bitcoin Sharks Continue Accumulation, But Whales Stagnate

On-chain data shows the number of Bitcoin sharks has continued to increase recently, but the whale count on the network has hit stagnation. Bitcoin Sharks Have Continued To Go Up In Number Recently According to data from the on-chain analytics firm Santiment, the number of whales on the Bitcoin blockchain has observed a slight decline during the last couple of months. The relevant indicator here is the “Supply Distribution,” which measures the total number of addresses that belong to each of the wallet groups on the network. The addresses are divided into these “wallet groups” on the basis of the total amount of BTC that they are carrying in their balances right now. In the context of the current discussion, there are four such cohorts that are of interest: 0-0.01 coins, 0.01-1 coins, 1-100 coins, and 100+ coins. Naturally, an address belonging to any of these groups would have its balance inside the range of the group in question. So if the Supply Distribution is applied to these cohorts, it would tell us (among other things) the total number of addresses on the chain that satisfy the respective conditions. Now, here is a chart that shows the trend in the Bitcoin Supply Distribution for each of these four cohorts since the start of the year: Looks like only one of these metrics has continued to constantly grow in recent days | Source: Santiment on Twitter The first of these groups, the 0-0.01 coins range, signifies the small retail holders of the market. From the above graph, it’s visible that these investors haven’t changed in number much lately as their Supply Distribution curve has been moving sideways over the past seven weeks. This would suggest that adoption among small investors isn’t rising for the cryptocurrency at the moment. Related Reading: Bitcoin Will Reach $175,000 If Prices Break Above This Rising Channel, Trader Claims The second group of relevance (0.01-1 BTC) has also been moving flat recently, showing that retail investors as a whole have hit a state of stagnation on the network. Unlike these cohorts, though, the indicator’s value for the 1-100 coins group, which is sometimes popularly referred to as the “sharks,” has only continued to climb higher in the past few months. This would imply that these decently-sized holders are still interested in buying the cryptocurrency, which could be a positive sign for the asset’s rally. While the sharks may hold some influence in the market due to the size of their holdings, they don’t hold nearly as much power as the largest cohort in the market: the whales. These humongous investors with 100+ BTC can move around a large amount of coins on the network, and thus, can cause noticeable ripples in the market. Due to this reason, these holders’ behavior may be considered the most important to watch. As displayed in the graph, the number of whales on the network has observed a decline during the last couple of months, although the degree of the downtrend hasn’t been too much. Nonetheless, one fact remains: they haven’t been accumulating recently. Related Reading: Bitfinex Hackers Surrender: Couple Agrees to Forfeit 120,000 Bitcoin in Plea Deal What these investors do next from here may be worth keeping an eye on, as Santiment explains that if they start buying again, the possibility of a breakout would greatly increase. BTC Price At the time of writing, Bitcoin is trading around $29,300, down 3% in the last week. BTC has plunged during the past day | Source: BTCUSD on TradingView Featured image from Flavio on Unsplash.com, charts from TradingView.com, Santiment.net

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Bitcoin Sharks And Whales Go On $2.15 Billion Buying Spree, Is It Time To Sell?

Author: Best Owie

United Kingdom

Source: NewsBTC

Jul 11, 2023 12:05

Bitcoin Sharks And Whales Go On $2.15 Billion Buying Spree, Is It Time To Sell?

Bitcoin has seen both highs and lows over the past month as various developments in the space put the digital asset’s price into a pull-and-push trend. However, investors have remained undeterred by the cryptocurrency’s movements and have rather chosen to continue to accumulate. This accumulation trend is more prominent in the shark and whale BTC addresses which have added 71,000 BTC to their holdings. Bitcoin Sharks And Whales Buy $2.15 Billion Worth Of BTC According to the on-chain data aggregator platform Santiment, the Bitcoin sharks and whales have been at one of their most active points over the last month. The data aggregator took to Twitter to share that these shark and whale addresses have bought a significant amount of BTC, amounting to $2.15 billion in less than a month. Related Reading: Analysts Puts Bitcoin At $125,000 By 2024, How Is This Possible? The shark and whale addresses being referred to in this report are addresses that hold between 10-10,000 BTC. This puts the lower band of these holders at $300,000 with the upper band sitting as high as $300 million. This means that these are the addresses that have the means to buy a large number of BTC. Santiment reveals that these shark and whale addresses started accumulating on June 17, and by July 8, they had added a total of 71,000 BTC to their holdings. A look at the Bitcoin price chart over the last month shows that these addresses started accumulating the digital asset at a low price of around $27,000. Then they continued to purchase coins all through to the $30,000-$31,000 range. Sharks and whales buy $2.15 billion worth of BTC | Source: Santiment The biggest spike in their balances during this period looks to have happened around June 26, when the chart shows that BTC was trending at $30,300. In total, their holdings went from just under 12.95 million BTC to 13.02 million BTC in the span of 21 days. Is It Time To Sell? Going by the chart shared by Santiment, it looks like these Bitcoin shark and whale addresses have already made some sell-offs, which could point to there being a cool-off period before they start selling again. There were significant dips in their holdings toward the end of June, as well as on July 7, marking sell-off points. BTC price reclaims $30,300 | Source: BTCUSD on TradingView.com Also, it is important to note that at the prices that these addresses accumulated most of their holdings, they are barely in any profit. So with the BTC price still hovering around $30,000, it sits close to the average at which these addresses are bought at, which is likely around the $29,000 range. So for now, these addresses could likely hold for better prices before selling. Related Reading: BlackRock CEO Larry Fink Says Bitcoin Is Digital Gold, So What’s The Digital Silver? If this is the case, then it is possibly a good time to get into the market as these large holders obviously see it as a good entry point. However, these large addresses can move the market and if there is a mass sell-off from them, then the price of BTC could tank. At the time of writing, BTC is trading at $30,300, which translates to a 0.09% decline in the last 24 hours. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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Bitcoin Sharks & Whales Show Strong Buying, Rally To Continue In July?

Author: Hououin Kyouma

United Kingdom

Source: NewsBTC

Jul 03, 2023 04:45

Bitcoin Sharks & Whales Show Strong Buying, Rally To Continue In July?

On-chain data shows that Bitcoin sharks and whales have continued to accumulate recently, something that could help the rally go parabolic this month. Bitcoin Sharks & Whales Have Continued To Add To Their Holdings According to data from the on-chain analytics firm Santiment, BTC sharks and whales have participated in further buying during the past two weeks. The relevant indicator here is the “Supply Distribution,” which tells us about the total amount of Bitcoin that each address group is holding in the market right now. The addresses are divided into these address groups based on the total number of coins they are carrying in their balances right now. The 1-10 coins group, for instance, includes all investors holding between 1 and 10 BTC currently. In the context of the current discussion, the cohorts of interest are the “sharks” and “whales.” These are investors who generally hold sizeable sums in their wallets, and their combined coin range may be defined as 10-10,000 coins. Due to the high amounts that these holders may carry in their wallets, they can have some influence on the market. Naturally, as the whales are the larger of the two groups, they carry significantly more power in the sector. As the movements of these holders can cause noticeable effects on the market, it can be worth keeping an eye on their behaviors. The Supply Distribution of this coin range can provide hints related to exactly that. Now, here is a chart that shows how the supply of these investors has changed during the last few months: The value of the metric seems to have been going up in recent days | Source: Santiment on Twitter As displayed in the above graph, the Bitcoin Supply Distribution for the 10-10,000 coins group had seen some decline earlier in the year but had bottomed out in the middle of April. Around the same time as the whales finishing up their selling, the asset’s price had hit a local top and had observed a drop over the next couple of months. While this decline had taken place, though, these sharks and whales had started growing their holdings once again, suggesting that they had been buying the dips. Related Reading: Institutional Investors Flock To Bitcoin: Are We Witnessing A Paradigm Shift? Later on, when the cryptocurrency had failed to show any signs of a resurgence, the supply of these investors had hit a standstill, implying that these investors had become hesitant to buy more. Following the bottom in June, however, and the subsequent emergence of news related to new ETF launches, these sharks and whales began to show some strong accumulation. In the past seven weeks, these investors have loaded up 154,500 BTC, a good chunk of which has come during the past couple of weeks alone. The indicator’s value has now reached 13 million BTC, implying that the Bitcoin sharks and whales now hold 67% of the total circulating supply. Related Reading: Bitcoin Price Holds Strong As The Bulls Aim New High Above $32K These humongous investors continuing to show strong overall accumulation through this new leg of the rally can be a positive sign for things to come this month. BTC Price At the time of writing, Bitcoin is trading around $30,600, up 1% in the last week. Looks like the asset has been mostly moving sideways in the last few days | Source: BTCUSD on TradingView Featured image from Sebastian Pena Lambarri on Unsplash.com, charts from TradingView.com, Santiment.net

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