{"id":364295,"date":"2021-11-09T06:25:00","date_gmt":"2021-11-09T03:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-whale-accumulation-precipitated-latest-all-time-high-bitcoin-breakout\/"},"modified":"2021-11-09T06:25:00","modified_gmt":"2021-11-09T03:25:00","slug":"record-whale-accumulation-precipitated-latest-all-time-high-bitcoin-breakout","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-whale-accumulation-precipitated-latest-all-time-high-bitcoin-breakout\/","title":{"rendered":"# Record whale accumulation precipitated latest all-time high Bitcoin breakout"},"content":{"rendered":"<p>&#8220;<strong># Record whale accumulation precipitated latest all-time high Bitcoin breakout <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin investors <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>ear to be increasingly sitting on their hands in hopes of higher prices, with the share of Bitcoin\u2019s supply that has remained inactive for the past three months spiking to a record high of 85%.\u00a0<\/p>\n<p>On-chain analytics provider Glassnode identified the milestone in its Nov. 8 \u201c<em>The Week Onchain<\/em>\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-45-2021\/\">report<\/a>, concluding: \u201cInvestors are just not spending their coins.\u201d<\/p>\n<p>Addresses that have not moved their BTC in 12-months, dubbed \u201clong-term holders\u201d (LTH), are among those most actively stockpiling coins \u2014 with said addresses moving just 6,500 BTC daily.<\/p>\n<p>The trend of accumulation does not appear to be slowing down, with the share of supply held on centralized exchanges also dropping to a record low of 12.9% as BTC is increasingly placed into secure storage.<\/p>\n<p>Glassnode reports that more than 5,000 BTC (approximately $338.6 million) was withdrawn from centralized trading venues during last week. The report asserted:<\/p>\n<blockquote><p>\u201cThe market is likely still in the quiet accumulation phase, punctuated by low activity, large exchange outflows, and very modest strategic spending by experienced holders.\u201d<\/p><\/blockquote>\n<p>Bitcoin broke into new all-time highs above $67,000 on Nov. 8, with its market capitalization also surpassing that of Tesla and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a>.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>BTC price \u2018ready to rally,\u2019 with Bitcoin bulls clear to charge at $85K \u2014 Analysis<\/em><\/strong><\/p>\n<p>The report notes that increased Bitcoin accumulation from long-term holders served as a precursor to April\u2019s previous BTC all-time high as well.<\/p>\n<p>The share of Bitcoin\u2019s supply represented by long-term holders reached a high of 80.6% in August 2020 before leading to April 2021\u2019s highs of roughly $66,000.<\/p>\n<p>Since the $66,000 price point, LTHs spent 0.73% of the Bitcoin supply, reducing the amount of supply they held to about 68%.<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"922\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/24ece97c-eb50-4f40-9ef3-dc5775f5657c.png\"><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/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\/record-whale-accumulation-precipitated-latest-all-time-high-bitcoin-breakout\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Record whale accumulation precipitated latest all-time high Bitcoin breakout &#8221; Bitcoin investors appear to be increasingly sitting on their hands in hopes of higher prices, with the share of Bitcoin\u2019s supply that has remained inactive for the past three months spiking to a record high of 85%.\u00a0 On-chain analytics provider Glassnode identified the milestone&#8230;<\/p>\n","protected":false},"author":1,"featured_media":364296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9hM2JjMTQyYzMzYzUxOWFhMWE3ODJhM2VkY2Q5ZWEwYi5qcGc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74862,74937],"class_list":["post-364295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin","tag-bitcoin-price"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/364295","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=364295"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/364295\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/364296"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=364295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=364295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=364295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}