Bitcoin whales and institutions are diving deeper into the crypto waters despite mixed market signals. Over $220 million in net outflows fled exchanges in a single day, with weekly outflows totaling a staggering $424 million. This mass exodus suggests investors aren’t just hodling – they’re locking their digital gold away for the long haul.
One whale made quite the splash, adding $200 million worth of Bitcoin to their position after selling between $100K and $86K in February. Talk about buying the dip.
The crypto tides are turning as one savvy whale loads up $200M after perfectly timing the six-figure selloff.
Another crypto fossil awakened after an 8-year slumber, moving 3,000 BTC worth $250 million. Guess some people check their wallets less often than their mailboxes.
BlackRock isn’t sitting on the sidelines either. The investment giant scooped up another 4,054 BTC through fifteen transactions, bringing their total stash to a mind-boggling 573,878 BTC – more than $50 billion worth. These massive holdings qualify BlackRock as a major whale that could significantly influence market dynamics.
Bitcoin ETFs recorded net inflows of $744.4 million last week, with BlackRock’s iShares Bitcoin Trust leading the charge.
Not everyone’s feeling bullish though. The market’s mood swings are giving investors whiplash. Bitcoin touched $81,000 recently, but the Crypto Fear and Greed Index has plummeted to “extreme fear.” Recent data shows major holders have sold approximately 6,813 Bitcoin valued at about $540 million, indicating potential bearish sentiment.
Meanwhile, one bold whale opened a 40x leveraged short position for 5,199 BTC worth $432.7 million. That’s either brilliant or insane. Time will tell.
Macroeconomic storm clouds loom large. Recession worries, stubborn inflation, and U.S. policy volatility are rattling markets.
Yet expert predictions remain wildly optimistic. Standard Chartered, Bitwise, VanEck, Fundstrat, and Bernstein analysts all see Bitcoin hitting between $180,000 and $250,000. The optimism isn’t surprising considering the total crypto market cap reached over $3 trillion in October 2024.
