Bitcoin Whales Sold 500,000 BTC as Institutions Absorb

Bitcoin whales sold more than 500,000 BTC in the past year, offset by institutional absorption of 900,000 BTC according to 10x Research.

This shift highlights market dynamics changes, with institutions stabilizing Bitcoin prices and reducing volatility.

Institutional Investment Absorbs 900,000 BTC, Reduces Volatility

Over the past year, significant changes occurred in Bitcoin holdings with whales selling over 500,000 BTC. At the same time, institutions, including ETFs and asset management firms, absorbed nearly 900,000 BTC, according to PANews citing Yahoo Finance. This marks a substantial shift in control from individual large holders to institutional investors.

The absorption by institutions led to a stabilization of Bitcoin price at approximately $110,000, contributing to reduced market volatility. This contrasts with previous cycles where speculative trading by whales influenced prices. With a total circulation of 20 million Bitcoins, such institutional interest shows a shift in market dynamics.

“The reduction in Bitcoin’s volatility, stabilizing around $110,000 due to institutional inflows, points to a holding trend over speculative activities.”

Bitcoin’s Market Cap Hits $2.17 Trillion Amid Price Surge

Did you know? Institutional absorption of 900,000 BTC marks the first shift of such magnitude from individual holders to entities, a trend unseen in previous cycles.

Bitcoin’s current price stands at $109,275.24 with a market cap of $2.17 trillion according to CoinMarketCap. BTC’s dominance in the market is 64.48% with a circulating supply nearing 20 million. Recent price movements show a slight increase of 0.53% over the last 24 hours and a notable 16.12% over 60 days.

According to insights from the Coincu research team, the increasing role of institutions in cryptocurrencies suggests further stabilization of Bitcoin’s market, potentially reducing instances of speculative fluctuations. As highlighted, regulatory frameworks from ETF approvals play a crucial role, possibly setting a precedent for other digital assets to follow.