🤔 This week: TSLA Q3 earnings report - is now the right time to buy the EV giant?Explore TSLA Data

Number Of Bitcoin Whales Holding Over 1K BTC Is On The Rise

Published 11/02/2023, 03:58 AM
Updated 11/02/2023, 04:15 AM
© Reuters Number Of Bitcoin Whales Holding Over 1K BTC Is On The Rise
BTC/USD
-

  • Crypto analyst James Straten tweeted that the number of BTC whales holding more than 1K Bitcoin is increasing in Q3 of 2023.
  • A user reported that BTC whales have accumulated over 30,000 BTC, worth $1 billion in 7 days.
  • Lawyer Scott Johnsson tweeted about the potential approval of a spot Bitcoin ETF by the US SEC on November 2.

Earlier today, crypto analyst James Straten tweeted that the number of Bitcoin whales holding over 1K BTC has been on the rise during the latter half of this year. According to him, whales buy cheaper BTC during bear markets to increase their holdings before dumping them for profit in bull markets.

On October 19, data from Cryptoslate reported that Bitcoin had been experiencing “exceptional accumulation across all cohorts in Oct. 2023.” Moreover, the holdings peaked in July, just before Bitcoin …

The post Number Of Bitcoin Whales Holding Over 1K BTC Is On The Rise appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.