Enormous Bitcoin Whale Adds $1 Billion in BTC Every Day: Who Is It?

Around $1 billion worth of Bitcoin is added every day to a massive new whale wallet, according to the WuBlockchain report, based on CryptoQuant’s research. This surge is probably the result of institutional investors buying Bitcoin and moving it to wallets under custodial care. Long-term holders have amassed 70,000 BTC over the last 30 days, and whale demand is increasing at a rate of 4.4% per month.

A sustained price rally for Bitcoin is anticipated given the improving conditions for the growth of its demand. Numerous reasons contribute to this demand rebound, including:

Growth in large investors and permanent holders: Traders are seeing a quicker increase in the combined balances of large investors and permanent holders. The conviction among long-term holders of Bitcoin is most likely rising.

$1 billion daily inflows: Every day, significant new Bitcoin investors are putting in $1 billion. This substantial investment demonstrates how prominent market participants are becoming more interested in and confident about Bitcoin.

Increase in Bitcoin purchases from spot ETFs in the USA: The demand for Bitcoin has increased as a result of the USA’s spot Bitcoin ETF approval and increased activity. This new investment channel increases demand by giving investors a more convenient way to gain exposure to Bitcoin.

Furthermore, traders have exhausted themselves on the market through heavy selling. The unrealized profit ratio resetting to 0% indicates that there may be less selling pressure now, signaling the start of a new phase of accumulation.

Additionally, since May 20, when spot ETH ETFs were approved in the USA, Ethereum has experienced a surge in demand. Long-term Ethereum holders and major investors have both increased their ETH purchases, indicating a similar trend of growing confidence in Ethereum in addition to Bitcoin.

The growth trajectory of stablecoin liquidity has not yet been restored, notwithstanding encouraging indications for both Bitcoin and Ethereum.

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