Bitcoin Whales Storm-Buy 300,000 BTC Instantly...Will it Explode to $100,000?

▲ Bitcoin (BTC)

Long-term holders have accumulated over 300,000 Bitcoins in the past month, driven by aggressive accumulation from Bitcoin (BTC) spot ETFs and major corporations.

According to crypto media outlet The Crypto Basic on April 23 (local time), Bitcoin long-term holders purchased an additional 300,000 BTC over the past 30 days. This comes as Bitcoin's price recently surpassed $78,000, nearing a new all-time high. The strong conviction of institutional investors has been proven by these figures. The competition for accumulation in the spot ETF market and among listed companies is fueling this trend.

Bitcoin spot ETFs such as BlackRock's IBIT and Fidelity's FBTC are rapidly absorbing the circulating supply in the market. These funds have recorded record capital inflows since their launch. Institutions have secured large quantities of Bitcoin through regulated investment vehicles. They are defending against market volatility and increasing their long-term holdings. This trend demonstrates that virtual assets have become established as mainstream financial assets.

The actions of Strategy, led by Chairman Michael Saylor, are also remarkable. Strategy recently purchased an additional $1 billion worth of Bitcoin, firmly maintaining its position as the largest single corporate holder. Chairman Saylor emphasized, "Bitcoin is digital gold with maximized scarcity." The simultaneous accumulation by corporations and ETFs is sharply reducing the supply in the circulating market.

Existing long-term holders have also chosen to buy more instead of selling. The movement of Bitcoin out of exchanges is accelerating. Exchange balances are at multi-year lows. Investors are preparing for a new bull market, triggered by a breakthrough past $80,000. This is a typical supply shock phenomenon where demand is surging while selling volume is drying up.

The Bitcoin market has now entered a new phase driven by massive capital. The accumulation competition between ETFs and large corporations is expected to intensify further. The entry barrier for individual investors is increasing day by day. Bitcoin is currently defending the $80,000 mark and continuing its rally towards the next target of $100,000. The firm institutional buying strongly supports the market's downward rigidity.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*