Tuesday, 02 January 2024 12:17 GMT

$4 Billion Bitcoin Accumulation Blitz: Whales Declare Selloff Over


Date:

(MENAFN- Investor Ideas) (Investorideas Newswire) a go-to platform for big investing ideas, including crypto stocks issues market commentary from deVere Group.

$4 billion has just flooded back into Bitcoin from its most powerful holders, in the“clearest signal yet that the sell-off is being aggressively absorbed.”

This is the bullish crypto market analysis of Nigel Green, CEO of financial advisory giant deVere Group as new on-chain data show that wallets holding more than 1,000 Bitcoin accumulated roughly 53,000 coins in the past week alone - the most aggressive buying spree since November.

The purchases come after months of heavy distribution and a drawdown that has left Bitcoin around 40% below its October peak.

For a market driven by liquidity flows and capital conviction, the shift is material. 'Whale wallets' had been persistent sellers through much of the correction.

Their abrupt return to accumulation interrupts that trend and suggests that deep-pocketed investors view current levels as strategic entry points rather than precursors to further sustained weakness.

The 53,000 BTC accumulated in a single week equates to more than $4 billion at prevailing prices. In a market where newly mined supply remains structurally limited, concentrated buying by long-term holders tightens available float. Liquidity conditions can shift quickly once supply is pulled into strong hands.

The interruption of months-long divestment is particularly notable. Persistent selling from major holders can weigh on price structure and confidence.

A decisive reversal in that behaviour alters the supply-demand equation and suggests the phase of aggressive distribution has likely run its course.

Against that backdrop, concentrated accumulation by wallets holding more than 1,000 BTC reinforces the case for strategic positioning rather than reactive trading.

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