According to cryptocurrency researcher Ali Martinez, Bitcoin (BTC) whales have boosted their holdings despite the current market turmoil. Although the recent market correction that saw Bitcoin fall below $40,000 alarmed many in the crypto world, data shows that these big players have been aggressively buying additional BTC.
https://x.com/ali_charts/status/1752237851255689674?s=20
Martinez shared the important results on X (previously Twitter), claiming that Bitcoin whales were aggressively adding to their BTC holdings throughout the most recent market drop. He stated that during the past two weeks, some 67 new companies had acquired 1,000 BTC or more, representing a 4.50% rise in ownership.
Investor confidence in BTC
The cryptocurrency ecosystem was rocked by last week’s market correction, which caused Bitcoin’s value to temporarily decline. Nevertheless, the top cryptocurrency has proven resilient, rising this week to $43,367 in its current price. This indicates a comeback from the previous dip and is a positive 2.96% increase in the last 24 hours.
Surprisingly, in the past 24 hours, trade volumes have increased by 51.65% to $22.78 billion. Despite the recent price volatility, this spike in trading activity suggests that investors have newfound interest in and trust in the market. Data from blockchain analytics firm IntoTheBlock indicates that 80% of Bitcoin owners are now profitable at the current price point.
According to this figure, most investors have survived the recent market volatility and are currently seeing a favourable return on their investment. Furthermore, the ability of Bitcoin whales to persevere in adding to their holdings of BTC in the face of uncertainty highlights a significant difference in attitude between institutional and individual investors.
Institutional players appear to consider the recent market fall as a good opportunity to expand their exposure to the top cryptocurrency, despite the fact that regular traders may have responded anxiously to it. It is unclear if the pattern of accumulation among Bitcoin whales will persist in the upcoming weeks, given the volatile and dynamic character of the cryptocurrency market.
