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Institutions Grab Over $5 Billion Bitcoin in a Week: Are They Predicting a Mega Rally?
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Institutions Grab Over $5 Billion Bitcoin in a Week: Are They Predicting a Mega Rally?

Samuel Edyme
Samuel Edyme
10 months ago
3 mins read
Institutions Grab Over $5 Billion Bitcoin

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A recent analysis from CryptoQuant has revealed that institutional investors have shown a notable level of activity in the Bitcoin market, snapping up a substantial 100,000 BTC over just one week.

Particularly, in the past month, these entities with wallets holding 1,000 to 10,000 BTC  have shown massive inflow levels that effectively match what was seen during March when US-based exchange-traded fund (ETF) introductions were at their peak.

This purchase surge is particularly noteworthy when Bitcoin prices saw a significant dip last week, trading as low as below $54,000 for the first time since February, prompting these seasoned investors to capitalize on lower prices.

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11 months ago

Implications Of The Scooped BTC

Notably, the recent institutional buying of BTC shows a strategic method to buy the asset even during price drops. According to the data obtained from the on-chain analytics platform CryptoQuant, these large buyers are not just speculating but have a strong belief in Bitcoin’s future value.

Total balance change from large holders.
Total balance change from large holders. | Source: CryptoQuant

These investors have aggressively accumulated Bitcoin in the most recent downturn, showing a different motive behind the purchase than their previous accumulation in past periods. The analyst revealing this in a CryptoQuant QuickTake post noted:

Unlike what was seen in March, which was a demand more linked to fundraising, the current institutional accumulation may indicate a true process of “buying the dip” in large players.

According to the CryptoQuant analyst, the massive Bitcoin accumulation among institutional investors began in March. Despite Bitcoin’s price decline of more than 20% since then, these investors continued to buy heavily, even during last week’s dip. The analyst particularly stated:

While many novice investors capitulated last week, with special emphasis on coins purchased between 1 and 3 months ago, institutional players made the largest accumulation process since March.

Bitcoin Market Performance And Future Outlook

Following the notable plunge this last week, Bitcoin appears to have recovered to some extent alone. So far, the asset has reclaimed its $57,000 mark, and it is now looking to trade back above $58,000 with its current trading price at $57,920.

Bitcoin (BTC) price chart on TradingView
BTC price is moving downwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

The asset is up 0.2% in the past 24 hours and 3.4% in the past week. Prominent crypto analyst Moutsache on X has earlier today revealed an interesting trend for Bitcoin. The analyst discloses that the “Russel 2000 and Bitcoin’s price action have always been highly correlated so far.”

Related Reading

Garantex

Germany Liquidates Over 90% Of Bitcoin Holdings, Retains Only $284 Million

10 months ago

Usually, if RUT increases in value, Bitcoin does the same, and currently, RUT appears to be attempting to break through a “strong resistance.” The analysts’ post suggests that should RUT break above this resistance, BTC’s price will likely follow suit by also experiencing a surge in value.

#Bitcoin

Most of you may not know it, but the Russel 2000 and Bitcoin’s price action have always been highly correlated.

If RUT rises, so does $BTC.

RUT is currently trying to break through strong resistance from 2021 to the upside.

Probably nothing.👀 pic.twitter.com/KlxWKEtSYx

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) July 11, 2024

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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