LATEST: Bitcoin Whales Seize Opportunity, Accumulate $1.38 Billion in BTC

In a strategic move during Bitcoin’s recent price decline, significant investors known as Bitcoin whales have acquired 20,600 BTC, valued at approximately $1.38 billion. This record inflow, observed by blockchain analytics firm CryptoQuant, marks the most substantial single-day purchase since February 28. During that period, the excitement around the nascent spot Bitcoin exchange-traded funds (ETFs) was surging as Bitcoin neared an all-time high.

From June 7 to June 11, as Bitcoin prices dipped from $71,650 to around $69,000, inflows into whale accounts varied between 1,300 and 2,200 BTC daily. This trend was disrupted by a sharp price drop that prompted whales to significantly increase their holdings.

The trading landscape received a brief boost on June 12 following encouraging U.S. Consumer Price Index results, with Bitcoin trading at $67,500. This ongoing accumulation by whales underscores their confidence in Bitcoin’s resilience and potential for recovery.

CryptoQuant

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