Bitcoin has demonstrated remarkable market strength recently, as evidenced by on-chain analysis revealing a surge in BTC whale activity for transactions over $10 million. This increase now constitutes 30% of the recent transaction volume, matching a peak observed only once in 2023.
This resurgence indicates renewed market confidence, driven by Bitcoin’s price movements and anticipation of the upcoming halving event, as well as a potential approval of a spot BTC ETF.
Bitcoin’s Whale Activity Surge
Glassnode data showed that the whales’ share in transaction volumes, specifically in the $100K to $1 million range, accounted for 24% of the total volume.
A similar trend was noticed in the $1 million to $10 million range, with volumes as high as 28%. These findings suggest that major whale activities have predominantly influenced recent BTC transactions.
In contrast, smaller investors’ transaction volumes, as analyzed by Glassnode, have shown a decline. For example, the $0 to $1k, $1k
We współpracy z: https://cryptopotato.com/bitcoin-whale-activity-soars-reflecting-renewed-market-confidence/
