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    Home ยป Despite Bullish Markets Major Bitcoin Investors Continue to Influx
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    Despite Bullish Markets Major Bitcoin Investors Continue to Influx

    By adminJul. 6, 2024No Comments2 Mins Read
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    Despite Bullish Markets Major Bitcoin Investors Continue to Influx
    Despite Bullish Markets Major Bitcoin Investors Continue to Influx
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    Large investors, known as “whales,” are countering the downward trend in the cryptocurrency market by accumulating significant amounts of Bitcoin (BTC). This buying wave by major participants comes against a backdrop of negative sentiment and price declines in the digital asset sector. Market analysts interpret this trend as a sign of enduring confidence among the whales, viewing the current market conditions as an opportunity to acquire more BTC at preferential prices. Data from Santiment, a market information platform, reveal that portfolios holding over 10,000 BTC have been the most active buyers during this market volatility. Read more:

    Despite price drops, US Bitcoin ETFs still see over $10 billion in capital inflows. These large addresses, likely belonging to exchange liquidity providers, have added a total of 212,450 BTC to their holdings. This represents a 1.05% increase in their share of the total Bitcoin supply. Wallets with 10K+ Bitcoin have been the extreme beneficiaries of the past 6 weeks of volatility. With these massive addresses speculated to be heavily comprised of exchange liquidity providers, they own 212,450 BTC more over this stretch, and 1.05% more of the entire supply. -Santiment (@santimentfeed) July 5, 2024. The significant accumulation by these large portfolios underscores the crucial role of exchange liquidity providers in the cryptocurrency market. By maintaining substantial Bitcoin reserves, they can help stabilize prices and ensure smooth trading by providing sufficient liquidity.

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