A large transfer of 48,575 BTC was spotted. CryptoQuant data shows it happened on April 9. This is the largest daily amount since February 1, 2022.
The bitcoin, worth $3.6 billion, moved to accumulation wallets. These wallets are for long-term holding, not trading. This occurred as trade tensions rose between the U.S. and China.
CryptoQuant says these wallets rarely sell. They are for accumulating bitcoin over time. The platform notes long-term or institutional investors use them.
This move is timed well. These wallets often buy during market drops. It suggests they see the market downturn as an opportunity.
The market fell 5% amid trade worries. This shows a counter-strategy: buying when markets decline. Some see crypto as a safe option when traditional markets struggle.
More signs point to confidence in Bitcoin. The number of wallets with 10+ BTC grew by 132. This signals major investors are shifting their positions.
More whales appear during market uncertainty. Many view this as a start to a long-term recovery.
Cardano founder Charles Hoskinson predicts Bitcoin could reach $250,000 by year-end. This view aligns with other market analyses. Institutional adoption and clear rules drive this. Also, countries with weak currencies see crypto as an alternative.
Big transfers show conviction, but also concentration. A few entities hold a lot of bitcoin.
This raises questions about market strength during volatility. Bitcoin's path depends on both markets and big holders. Will this accumulation lead to growth? Or, is it just a reaction to market fears?