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Bitcoin Whales Accumulate 3,488.7 BTC in 24 Hours, Signaling Potential Price Breakout

Coin WorldWednesday, Apr 16, 2025 10:12 pm ET

1min read

In recent developments, multiple Bitcoin whales have been actively accumulating the cryptocurrency, signaling a potential shift in market dynamics. According to data from various sources, within a 24-hour period, four whale addresses accumulated a total of 3,488.7 BTC, valued at approximately $325 million. This accumulation includes significant withdrawals from major exchanges such as OKX, Binance, Coinbase, and Kraken. Notably, Galaxy Digital withdrew 554 BTC, Abraxas Capital withdrew 1,854 BTC, and two other large addresses, 1MNqX and 1BERu, withdrew 545.5 BTC and 535.2 BTC respectively.

The recent accumulation by whales has pushed the metric to its highest level since April 2024, suggesting a potential breakout in Bitcoin's price. This trend is indicative of large holders increasing their positions, which could be a bullish sign for the market. However, it is important to note that while whales are accumulating, there have also been instances of significant sell-offs. For example, whales realized losses as prices slipped below $80,000, leading to a net reduction of about 30,000 BTC in their stash over the past week.

Despite the sell-offs, the overall trend of accumulation by whales suggests that they are positioning themselves for a potential price increase. This behavior is in contrast to the period when on-chain metrics indicated that large holders were neither selling nor accumulating in force. The current accumulation could be a strategic move by whales to capitalize on any future price movements.

The market's reaction to these movements remains to be seen, but the actions of these large holders are certainly a point of interest for investors and analysts alike. The accumulation by whales, coupled with the potential for a price breakout, could signal a shift in the market's sentiment towards Bitcoin. However, it is crucial to monitor these developments closely, as the actions of whales can have a significant impact on the cryptocurrency's price.

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