Major Investors Accumulate Bitcoins Actively Ahead of ETF Approval: Whale Acquires Nearly 15,000 BTC in 2023
Date: 2023-11-11 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, BUSINESS
Anonymous Bitcoin Whale Accumulates Millions in Cryptocurrency
Since the beginning of 2023, the global cryptocurrency market has taken center stage as an unknown Bitcoin whale actively accumulates digital gold. According to recent data, the whale has acquired nearly 15,000 BTC, with an average cost of $28,071 per token. At the current Bitcoin price of $37,000, the total value of this accumulation exceeds $500 million, with unrealized profits estimated at over $126 million.
The whale's wallet, as per Bitinfocharts, remained empty until January 17, after which it started filling up alongside the sharp rise in Bitcoin prices to $20,000. By early March, the wallet held almost 4,000 bitcoins, and following the submission of a request to launch a spot ETF by investment giant BlackRock, the number of coins doubled.
Insider Information and ETF Approval Anticipation
Despite the fact that the described whale is not the only major investor accumulating Bitcoin, its actions have caught the attention of analysts and market participants. Analyst MartyParty noted that significant holders actively purchase bitcoins, totaling around $15 million every 3 hours, expressing the belief that they possess information about a potential approval of a Bitcoin ETF.
Against the backdrop of Bitcoin's rise, there is not only whale activity but also an increase in the number of wallets holding more than 10,000 coins. This could indicate that major investors anticipate positive regulatory changes, potentially foreshadowing future cryptocurrency price growth.
Whales as Harbingers of Growth and Market Leaders
The active accumulation of bitcoins by major investors, such as the described whale, serves as a clear indicator of increased interest in cryptocurrencies among institutional players. This may also reflect confidence in the future development of the market, especially in anticipation of Bitcoin ETF approval. Considering the influence of whales and their often-accessible insider information, observing their actions becomes crucial for many participants in the crypto community. Overall, these events could serve as a catalyst for investors and herald a new wave of price growth for the leading cryptocurrency.
