Bitcoin Whale Holdings of Reaches 2-Year High: BTC Price Prediction
Bitcoin (BTC) has continued its upward trend, recently surpassing $66,500 and reaching an intra-day high of $67,366. This bullish rally is largely attributed to increased Bitcoin whale holdings, indicating rising investor confidence that supports the cryptocurrency’s price.
The surge in whale holdings to a two-year high, with addresses holding 1,000+ BTC now accounting for 7.9 million BTC or 40% of the circulating supply, further underscores the growing optimism in the market.
#Bitcoin addresses with 1,000+ $BTC now hold 7.9M BTC, a two-year high, representing 40% of the circulating supply.
Throughout July, miners have increased their holdings by 4,500 BTC, amounting to a value of $300 million.
Source: @intotheblock pic.twitter.com/E1RHrjusSh
— Satoshi Club (@esatoshiclub) July 19, 2024
Moreover, US Bitcoin ETFs have attracted over $2 billion in inflows within two weeks, reflecting renewed market optimism and further propelling BTC prices.
Prominent analyst Kevin Svenson’s insights on Bitcoin price predictions highlight the cryptocurrency’s potential for significant gains, adding to the positive sentiment surrounding BTC.
Bitcoin addresses with at least 1,000 BTC have recently reached their highest level in two years, holding a total of 7.9 million BTC, or 40% of all Bitcoin in circulation.
This rise shows that major investors, including institutions and wealthy individuals, are increasingly confident in Bitcoin as a valuable investment, especially during times of economic uncertainty and inflation.
The significant accumulation by these large holders, or “whales,” suggests they believe Bitcoin will continue to grow in value over time and serve as a strong store of value.
Therefore, this surge in Bitcoin holdings by major
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