20,000+ Bitcoin Bought in Just Two Days – Whales Expecting New ATH?
Emily HarrisMore than $2 billion in Bitcoin have been accumulated in the past 48 hours[...]
Bitcoin Whales Accumulate Over 20,000 BTC in Less Than a Week
Cryptocurrency analyst and trader Ali Martinez reports that Bitcoin whales have been actively accumulating the leading digital asset. Over the past two days, whale holders with 100-1,000 BTC have purchased more than 20,000 BTC, worth $2.1 billion at current market prices.
This buying spree comes as Bitcoin experienced a 4% decline over the past week, dropping from $108,900 to $105,000. The whale investors seized this opportunity to expand their Bitcoin holdings at lower prices.
Analysts maintain a positive outlook on Bitcoin's long-term potential. Michael van de Poppe suggests that reclaiming the $106,500-$107,000 level could propel Bitcoin toward new all-time highs. Industry leaders like Mike Novogratz and Tim Draper have made even more bullish predictions, forecasting Bitcoin could reach $130,000 or even $250,000 by year-end.
Spot Bitcoin ETFs See Significant Inflows
Lookonchain data reveals that spot Bitcoin ETFs recorded a total net flow of $430.25 million worth of BTC on May 29. BlackRock's IBIT led the inflows, adding 4,476 BTC ($480.62 million) to its holdings, which now total 663,773 BTC ($71.27 billion).
Other notable inflows included Grayscale Bitcoin Mini Trust (+328 BTC) and VanEck Bitcoin ETF (+71 BTC). IBIT alone accumulated 20,018 BTC this week.
Ethereum ETFs also saw substantial activity, with BlackRock's iShares adding 19,977 ETH ($53.04 million) on Thursday and 52,668 ETH over the week. Grayscale Ethereum Trust absorbed 16,062 ETH, while Fidelity purchased 26,973 ETH during the same period.
These strong inflows into both Bitcoin and Ethereum ETFs underscore the growing institutional demand for cryptocurrency exposure.
