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ZyCrypto 2025-01-04 06:13:12

Bitcoin Whales Accumulate 70,000 BTC as Price Surges Beyond $98,000

Bitcoin (BTC) continued to demonstrate remarkable strength this week after soaring to a new high of $108,268 last month. This bullish momentum continues to signal growing confidence among investors, particularly high-net-worth individuals. Notably, Bitcoin whales, typically known for “buying the dip,” have flipped the script, scooping up massive quantities of BTC during its price highs. Renowned crypto analyst Ali Martinez highlighted this development, revealing that Whales acquired over 70,000 BTC within 48 hours. This staggering investment, valued at over $7.28 billion, underscores the conviction of big-money investors in Bitcoin’s long-term potential. Elsewhere, Despite Bitcoin’s impressive price action, large holders are showing no signs of offloading their assets, according to CryptoQuant analyst CryptoOnchain. In a recent post, the pundit highlighted the Realized profit ratio data, which tracks wallet activity across various size ranges (10-100 BTC, 100-1,000 BTC, and 1,000-10,000 BTC), noting it suggests that whales believe Bitcoin has yet to reach its peak in this market cycle. “Compared to the all-time high (ATH) in previous cycles, it seems that the selling and profit-taking process by whales has not yet begun. This may indicate that, according to the whales, we are still not at the ATH range for this cycle.” He wrote. That said, the heightened whale activity coincides with growing institutional interest in Bitcoin. MicroStrategy, the business intelligence giant led by Michael Saylor , announced earlier this week its latest addition of 15,350 BTC to its holdings, boosting its total reserves to 439,000 BTC. Mining companies have also joined the accumulation trend, with firms like Marathon Digital increasingly holding Bitcoin on their balance sheets. Meanwhile, broader corporate adoption remains minimal. For instance, only 0.55% of Microsoft shareholders recently supported a proposal to create a Bitcoin reserve, and a similar initiative at Amazon saw just 0.01% approval. According to OKG Research, a mere 0.01% of global public companies currently hold Bitcoin, highlighting the untapped potential for institutional adoption. Bitcoin’s recent surge is supported by shifting macroeconomic conditions. With inflation fears lingering, skepticism toward traditional financial markets growing, and potential central bank rate cuts anticipated in 2024, Bitcoin’s narrative as a hedge asset has gained renewed traction. Notably, the digital scarcity of Bitcoin, combined with its decentralized nature, makes it an attractive store of value for institutional investors seeking alternatives to fiat currencies. Regulatory clarity in key markets, including the United States, has further fueled confidence among investors. Additionally, speculation around the potential approval of Bitcoin spot ETFs is driving anticipation of broader institutional participation. As momentum builds, analysts are setting bold price targets for Bitcoin. On Monday, Bitfinex researchers forecasted a peak price of $200,000 for Bitcoin during the second half of 2025, driven by increasing institutional adoption and diminishing speculative volatility. At press time, BTC was trading at $98,095, reflecting a 1.37% surge in the past 24 hours.

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