About $1 billion worth of Bitcoin is added to a huge new whale wallet every day, according to WuBlockchain’s report, based on CryptoQuant research. This increase is likely the result of institutional investors buying bitcoin and transfer it to wallets in custody. Long-term holders have accumulated 70,000 BTC in the last 30 days and whale demand is increasing at a rate of 4.4% monthly.
About $1 billion worth of Bitcoin is added to a huge new whale wallet every day, according to WuBlockchain’s report, based on CryptoQuant research. This increase is likely the result of institutional investors buying bitcoin and transfer it to wallets in custody. Long-term holders have accumulated 70,000 BTC in the last 30 days and whale demand is increasing at a rate of 4.4% monthly.
A sustained rebound in Bitcoin prices is anticipated given the improvement in conditions for the growth of its demand. Numerous reasons contribute to this rebound in demand, including:
Growth of large investors and permanent holders: Traders are seeing a faster increase in the combined balances of large investors and permanent holders. Most likely, conviction among long-term Bitcoin holders is increasing.
Daily Billion Dollar Inflows: Every day, new major Bitcoin investors bring in $1 billion. This significant investment demonstrates how prominent market participants are increasingly interested and confident in Bitcoin.
US Spot ETF Bitcoin Purchases Increase: Demand for Bitcoin has increased as a result of the approval of US Spot Bitcoin ETFs and increased activity. This new investment channel increases demand by giving investors a more convenient way to gain exposure to Bitcoin.
Alex DovbnyaFurthermore, traders have been sold out in the market due to strong sales. The unrealized profit ratio resetting to 0% indicates that there may now be less selling pressure, signaling the start of a new accumulation phase.
Additionally, since May 20, when spot ETH ETFs were approved in the US, Ethereum has seen a surge in demand. Both long-term Ethereum holders and mainstream investors have increased their purchases of ETH, indicating a similar trend of growing confidence in Ethereum in addition to Bitcoin.
The growth trajectory of stablecoin liquidity has yet to be restored, despite encouraging signs for both Bitcoin and Ethereum.
