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Whale accumulates $280 million worth of Bitcoin within 15 hours
Source: CryptoNewsNet Original Title: Whales accumulate $280M in Bitcoin in 15 hours Original Link:
Market Dynamics
According to Lookonchain data tracking, three wallets that may belong to the same entity accumulated 3,000 Bitcoins in the past 15 hours, worth approximately $280 million.
Bitcoin Trends
This buying activity occurred amid a strong start for Bitcoin. Bitcoin rebounded above $94,000 on Monday, then retreated to around $92,000.
Institutional Fund Inflows
The rise was supported by a resurgence in institutional demand. According to Farside Investors data, US spot Bitcoin ETFs recorded a net inflow of about $1.2 billion in the first two trading days of this year.
However, the momentum cooled on Tuesday, with these funds collectively experiencing a net outflow of approximately $243 million. Among them, BlackRock’s IBIT was the only fund to record a net inflow, increasing by $229 million.