More news is coming in from Bitcoin whales as over $90B in BTC was transferred in $100k+ transactions post-election. These are the biggest numbers in the last 6 months.
More big Bitcoin transfers mean that the market is active and investors are confident. Analysts say this movement is due to renewed interest in cryptocurrency and hope after the election. A sudden rise in transactions shows that big investors, also called “whales,” are getting ready for changes in the market. This is the highest in the last six months.
The “Realized Cap” for Bitcoin Sets Record High
Recent figures also reveal that the “Realized Cap” for Bitcoin peaked at $656 billion. Though computed differently, the Realized Cap is similar to the market cap. Rather than basing decisions on the present price of BTC, it compiles the last trading price of every BTC, therefore revealing the actual worth possessed by investors. Strong confidence among holders who are reluctant to sell—even in times of great market activity—is reflected in this new top.
Bitcoin ETFs Also Experience Record Inflows
In the meantime, BTC ETFs had record-breaking net inflows. Satoshi Club claims that after-election inflows totaled $1.38 billion. The spike coincides with a good market mood inspired by the election results. This increase in investment points to institutional investors, hoping for higher gains, being more ready to support Bitcoin ETFs.
The election has generated a tsunami of activity and excitement in the BTC market. Many investors remain wary of what comes next for the top cryptocurrency as big transactions, fresh pricing records, and huge ETF inflows influence the scene.
Source: https://blockchainreporter.net/bitcoin-whales-resurface-90b-transferred-in-major-post-election-moves/