Markets
New whales and market trends to watch
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Bitcoin (BTC) has surpassed $70,000, rising more than 5% in the past 24 hours. This is significant Bitcoin price The increase has sparked interest and curiosity in the market, trying to understand the underlying factors driving this upward momentum.
New Whales Drive Bitcoin Accumulation Trend
Since January, the capitalization realized for new whales has been steadily increasing. Realized capitalization, calculated based on the price at which each Bitcoin was last purchased or moved, it shows how much money was invested in Bitcoin. The increased cap made for new whales indicates active accumulation by these large investors.
In contrast, the realized limit for old whales has remained relatively stable. This stability suggests that long-term investors are holding on to their Bitcoin. This holding behavior by the old whales underlines their confidence in the future value of Bitcoin.
The gradual growth of the limit implemented for addresses holding more than 10,000 BTC reflects a slow but steady accumulation by the largest Bitcoin holders. This trend indicates that even major investors are gradually increasing their positions in Bitcoin.
This accumulation by the largest holders is a positive sign for the market. Major investors continue to be interested and confident in Bitcoin.
Unrealized BTC Profits Show Significant Gains
Unrealized profits and losses reflect the potential gains or losses if holders sold their BTC at the current market price. Since the beginning of the year, unrealized profits have been steadily increasing, reaching a peak around mid-March. This increase indicates that large holders have seen significant potential gains.
Profit levels for new whales have been more volatile than for old whales and large keepers. While old whales and major holders show stable and substantial unrealized profits, new whales show more volatility but are still profitable. This volatility among new whales highlights the dynamic nature of new investors in the market.
Bitcoin’s 51% year-to-date gain reflects investor anticipation regarding US monetary expansion. In April 2024, the M2 monetary base exceeded $21 trillion. This increase in circulating money suggests rising inflationary pressures, despite a period of hesitation in spending by businesses and individuals.
The United States Federal ReserveStrategies to manage inflation and avoid a recession could impact liquidity. As a result, this could impact the attractiveness of scarce assets like Bitcoin. Investors are watching the Federal Reserve’s actions closely, as these could have significant implications for the future value of Bitcoin.
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