Bitcoin Weekly Inflow Remains Positive Over the Last 4 Months
2024-09-19
Bittime - Bitcoin (BTC) shows an interesting trend in recent months. Even though the rate of accumulation from whales is starting to slow down, weekly Bitcoin inflows have remained positive for almost 4 consecutive months.
This indicates stable trust among large Bitcoin holders. Read this article to find out the full news!
Bitcoin Whale Accumulation
Level accumulation Bitcoin by whales, market players who own more than 1,000 BTC, usually have a large influence on Bitcoin price movements.
In early 2024, these whales significantly increased their holdings, thereby pushing the price of Bitcoin to a new ATH.
However, in the middle of the year, this trend began to change. SSince May, accumulation by whales has begun to slow down.
Even so, the accumulation rate is slowing, weekly inflows remain positive. This shows that even though there is no massive accumulation, whales still tend to add to their positions, albeit in smaller amounts.
Read Also: Bitcoin Prices Strengthen in September, Optimistic in October?
Inflow Weekly Bitcoin is Positive for 4 Months
Source: x.com/intotheblock
The graph above shows since May 2024, inflow weekly from whale Bitcoin continues to show positive results. This means that more Bitcoin goes into large wallets than goes out.
The last time there was a negative weekly inflow was in May, after which positive flows continued.
This trend is important because even though accumulation is slowing, positive inflow for 4 consecutive months shows that Bitcoin whales are still optimistic about Bitcoin's long-term prospects.
They may not be buying as heavily as before, but they are not giving up their positions in significant amounts either.
Inflow Weekly Bitcoin and Bitcoin Price
This condition clearly has an impact on the Bitcoin price in the market. If whales continue to hold large amounts of Bitcoin, selling pressure in the market will decrease, which could support stability or even an increase in prices.
On the other hand, if whales start offloading large portions of their assets, this could trigger a significant sell-off and cause Bitcoin prices to fall sharply.
Over the past 4 months, the price of Bitcoin has fluctuated, but the data shows that the overall trend is still positive.
Read Also: Bitcoin Price in Q4 2024 Predicted to Strengthen
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