A report published by on-chain data aggregator Santiment has revealed that Bitcoin whales have started reversing in their market tactics and are buying back the BTC they sold recently.
The month has only started and whales have already grabbed back almost half a billion USD worth of Bitcoin.
Related
Sat, 03/08/2025 - 10:10 28,526,813 SHIB in One Hour – What's Happening?
Yuri Molchan
HOT Stories 360,000,000 Dogecoin (DOGE) Stun World's Largest Exchange Bloomberg's McGlone Predicts Bitcoin Might Plunge to $70,000 XRP: Movement to Death Cross Begins, Shiba Inu (SHIB) Bulls Gave Up? Solana (SOL) Bullish Reversal Might Be Around Corner Binance's CZ Urges Musk to Ban Bots
Bitcoin whales buying it back
Santiment reported that BTC whales and sharks have undergone several major transformations over the past half-year. They started accumulating large amounts of Bitcoin, then paused their accumulation, and then dumped it. The most recent sales took place between the middle of February and March.
As March kicked off, these whales with a minimum of 10 BTC in their wallets have begun buying Bitcoin again and have accumulated 5,000 BTC already. This amount of leading cryptocurrency is valued at $408,010,750 at the time of this writing.
So far, the Bitcoin price has not reacted to this massive accumulation. However, the Santiment team believes that the situation may change in the second half of March and play out “much better than the bloodbath we've seen since Bitcoin's ATH 7 weeks ago.” That is if these large whales continue to buy Bitcoin, the tweet stated.
Related
Mon, 03/10/2025 - 05:52 Bloomberg's McGlone Predicts Bitcoin Might Plunge to $70,000
Alex Dovbnya
Mike McGlone predicts Bitcoin dropping to $70,000
Over the past three days, Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has tweeted that he believes a large Bitcoin decline is likely this year. On Friday, McGlone tweeted that due to the rigid US external economic policy, the stock market is plunging, and Bitcoin is mirroring it closely.
McGlone said the only asset benefiting from the current situation is gold, which is a traditional safe-haven asset. The market mostly treats Bitcoin as a risk-on asset.
The expert also likened Bitcoin to the Nasdaq 100 peak in the early 2000s, when it reached an all-time high of 5,000 points at the peak of the dot-com bubble and then crashed by 80%. McGlone expressed an opinion that Bitcoin is likely to face the same fate this year and crash after reaching a peak of $100,000. He did not specify whether this crash is happening already or he expects this scenario to play out later this year.
Earlier today, McGlone predicted that Bitcoin may potentially crash to $70,000 this year.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
