CandleFocus

Whale Accumulation Rises Amid Bitcoin Options ETF Launch as BTC Hits $94K ATH

Author: Content Editor
The recent launch of Bitcoin ETF options by BlackRock has sparked increased whale activity and led to Bitcoin reaching a new all-time high of over $94,000. The launch of these options has reignited interest in the crypto market and analysts believe it will lead to further price increases. Grayscale Investments has also announced plans to introduce options trading on its spot Bitcoin ETFs. As a result of this institutional activity and the surge in BTC's value, on-chain insights platform Spot On Chain has observed a rise in whale accumulation. One notable wallet, "bc1qc," withdrew 750 BTC ($68.9 million) from Binance within 24 hours and now holds 24,660 BTC worth $2.3 billion. Additionally, six first-time wallets collectively withdrew 500.2 Wrapped Bitcoin (WBTC) valued at $46.3 million from Binance, with the funds being transferred to Aave. These actions suggest a sustained engagement by whales, with Binance playing a key role as a liquidity hub. Bitcoin is currently trading at $93,699.96 with a 1.18% increase in the past 24 hours and a 6.69% rise over the past week.

Related News