{"id":193253,"date":"2021-03-03T20:00:00","date_gmt":"2021-03-03T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests\/"},"modified":"2021-03-03T20:00:00","modified_gmt":"2021-03-03T17:00:00","slug":"bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests\/","title":{"rendered":"# Bitcoin whales are accumulating BTC around $48K, on-chain data suggests"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373bfcdf5d0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373bfcdf5d0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests\/#Why_whale_confidence_is_important\" >Why whale confidence is important<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests\/#Macro_factors_are_aligned_for_a_Bitcoin_rally\" >Macro factors are aligned for a Bitcoin rally<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin whales are accumulating BTC around $48K, on-chain data suggests <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Whales are continuing to accumulate Bitcoin (BTC) despite the price more than doubling so far in 2021, according to the latest data from CryptoQuant.<\/p>\n<p>This trend indicates that the confidence in Bitcoin is strengthening as the price is now attempting to stabilize above the $50,000 level.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_whale_confidence_is_important\"><\/span>Why whale confidence is important<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>During bull cycles, whales can take profit on their positions, especially if the futures market is highly overcrowded.<\/p>\n<p>Whales selling their holdings to rebalance their portfolios can cause massive price swings in the market, especially when accompanied by cascading liquidations.<\/p>\n<p>In this bull cycle, on-chain data show that whales are buying Bitcoin rather than selling it, likely in anticipation of more upside in the future.<\/p>\n<p>Ki Young Ju, CEO at CryptoQuant, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1366984863127986180?s=20\">said<\/a>:<\/p>\n<blockquote><p>&#8220;Whales accumulating $BTC. They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k. Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price.&#8221; <\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/3c02d866-ccac-4266-9985-3bad4a983649.jpeg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Coinbase pro outflow. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Whales or high-net-worth investors might be accumulating Bitcoin rather than taking profit on their positions because they might believe a supercycle might be emerging.<\/p>\n<p>Bitcoin has not had this much institutional interest prior to the current bull cycle, particularly coming from public companies and financial institutions.<\/p>\n<p>Bitcoin is becoming highly compelling in an environment where the continuous expansion of the money supply by central banks is forcing some companies to look for alternatives to cash.<\/p>\n<p>Additionally, William Clemente, a pseudonymous analyst, also points out that accumulation addresses are increasing, indicating another &#8220;wave&#8221; of accumulation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>ears we are in the midst of another wave of new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Accumulation Addresses <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/7TQ1NE08lH\">pic.twitter.com\/7TQ1NE08lH<\/a><\/p>\n<p>\u2014 William Clemente III (@WClementeIII) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1367121244458524677?ref_src=twsrc%5Etfw\">March 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Macro_factors_are_aligned_for_a_Bitcoin_rally\"><\/span>Macro factors are aligned for a Bitcoin rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Fundstrat&#8217;s Leeor Shimron explains, Bitcoin still has a lot of room to run when priced by the M1 money stock.<\/p>\n<p>Shimron said the Bitcoin cycle could &#8220;get very wild,&#8221; suggesting that BTC is far away from reaching a potential top.<\/p>\n<blockquote><p>&#8220;Bitcoin priced in the M1 money stock still very far from its ATH. In the face of unprecedented money printing, the bull market may just be getting started. This cycle could get very wild.&#8221;<\/p><\/blockquote>\n<p>There are several other metrics that suggest a Bitcoin top is likely far from being reached in the near term.<\/p>\n<p>For instance, the SOPR indicator, which measures the profit-taking activity of investors, shows that many investors already took profit on their positions.<\/p>\n<p>In the foreseeable future, this could reduce significant selling pressure on Bitcoin, which coincides with whales continuing to buy up the circulating supply of Bitcoin.<\/p>\n<p>Raoul Pal, the CEO of Real Vision Group, shared a similar sentiment. He said that Bitcoin would suck up most of the world&#8217;s capital over time. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RaoulGMI\/status\/1367140987760435205\">said<\/a>:<\/p>\n<blockquote><p>&#8220;But It really suggests that <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> investments and above all, Bitcoin (and my guess ALL digital assets) are going to continue to suck in all the worlds capital, over time, as people realise it is the most efficient way to generate wealth over and above their store of value.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-whales-are-accumulating-btc-around-48k-on-chain-data-suggests\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin whales are accumulating BTC around $48K, on-chain data suggests &#8221; Whales are continuing to accumulate Bitcoin (BTC) despite the price more than doubling so far in 2021, according to the latest data from CryptoQuant. This trend indicates that the confidence in Bitcoin is strengthening as the price is now attempting to stabilize above&#8230;<\/p>\n","protected":false},"author":1,"featured_media":193254,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvMDM1YmU5MGItN2M0Mi00YWNjLTgxMzQtY2FjZmM1ODRlNzA5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73711,73785],"class_list":["post-193253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/193253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=193253"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/193253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/193254"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=193253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=193253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=193253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}