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 the cryptocurrency media outlet TheCryptoBasic on April 23 (local time), Bitcoin long-term holders purchased an additional 300,000 BTC over the past 30 days. Recently, the price of Bitcoin surpassed $78,000, nearing a new all-time high. The strong conviction of institutional investors has been proven by these figures. The fierce accumulation competition 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 unprecedented inflows since their launch. Institutions have secured large amounts of Bitcoin through regulated investment vehicles. They are defending against market volatility and increasing their long-term holdings. This trend indicates that virtual assets have firmly established themselves 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 drastically reducing the supply in the circulating market.

Existing long-term holders have also opted for additional purchases instead of selling. The movement of Bitcoin off exchanges is accelerating. Exchange balances are at their lowest in years. Investors are preparing for a new bull market, with the $80,000 breakthrough as a potential trigger. Demand is surging, while the selling supply is drying up, a classic supply shock phenomenon.

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 rising daily. Bitcoin is currently holding the $80,000 mark and continuing its rally towards its next target of $100,000. The firm buying pressure from institutions strongly supports the market's downside 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.*