Money
Bitcoin Whales Accumulate Record 270,000 Coins in Recent Dip, Surpassing COVID and FTX Bottoms
Lark Davis
Bitcoin ETF Flows Just Flipped [Get Ready]
"The other two times of the previous biggest accumulations of Bitcoin whales— the COVID bottom, they bought 150,000 coins. The FTX bottom, about 180,000 coins. This move down under $60K, whales bought 270,000 coins. The single biggest accumulation by the most well-versed, well-experienced, deepest-pocketed people in the market, the Bitcoin whales."
Bitcoin whales accumulated 270,000 BTC during the recent drop below $60,000, marking the largest whale accumulation event on record and significantly exceeding the 150,000 coins bought at the COVID bottom and 180,000 at the FTX crash bottom. This massive institutional buying suggests sophisticated investors are betting against further downside to $40,000 levels predicted for October. The accumulation coincides with Bitcoin ETFs recording their first major inflow of $221 million after historic June outflows.
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Lark Davis