The cryptocurrency market is experiencing significant activity from major players, known as bitcoin whales. These market participants control large amounts of cryptocurrency and their actions significantly affect price dynamics.
One of the largest Bitcoin whales has recently replenished its position by selling more than 11,400 Bitcoins for $200 million. At the same time, it still has more than $1.3 billion worth of Bitcoin left. This indicates that these major players continue building up their positions despite market fluctuations.
After the sell-off in February, the whale started buying Bitcoins again, possibly indicating an expectation of price increase in near future. Over the last seven days, Bitcoin has gained more than 4% in value, with prices reaching $88,000 by March 24. However, by March 28 they dropped to $78,940 due to market volatility.
A second Bitcoin whale woke up after eight-year hiatus and transferred more than $250 million worth of Bitcoins. Its Bitcoin stack grew from $3 million at the beginning of 2017 up to over $25 billion today. This shows that even after long periods of inactivity major players can re-enter the market and affect its dynamics.
BlackRock, a major asset manager, has also been active in Bitcoin market. Over last week it bought 4054 Bitcoins increasing its portfolio size to 5.7 million worth over $50 billion. Blackrock’s iShare Bitcoin Trust led rally in US spot Bitcoin ETFs reflecting growing interest from large investors towards cryptocurrencies.
Other major players are active in Ether market too. A single Ethereum whale added $13.8 million worth 7074 Ether. Ether price fluctuated between 1876-2097 USD over last seven days. Open interest for Ether increased dramatically reaching new all-time high. This could indicate growing interest among large investors towards Ether and its investment potential.
Overall, activity among major players indicates that investors are continuing to increase positions and showing interest in crypto despite market volatility which could affect price movements and overall trends in real estate markets.
