{"id":607916,"date":"2024-05-14T15:00:24","date_gmt":"2024-05-14T15:00:24","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=607916"},"modified":"2024-06-11T07:01:56","modified_gmt":"2024-06-11T07:01:56","slug":"bitcoin-whales-buying-200000-btc-week-data","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-200000-btc-week-data\/","title":{"rendered":"Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows"},"content":{"rendered":"

On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 200,000 BTC every week.<\/p>\n

Short-Term Holder Bitcoin Whales Have Continued To Accumulate Recently<\/h2>\n

As explained by CryptoQuant author Axel Adler Jr in a post<\/a> on X, the demand among the short-term holder whales has decreased since the all-time high, although it still continues to remain strong.<\/p>\n

Related Reading: Buy Or Sell Bitcoin? Quant Reveals What Leading Metric Says<\/a><\/div>\n

The “short-term holders<\/a>” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. This cohort includes the new investors in the market, as well as the fickle-minded traders who make moves often and don’t tend to HODL.<\/p>\n

The investors who make it past the 155-day threshold are put inside the “long-term holders<\/a>” (LTHs), which is a group that’s generally considered to reflect the resolute side of the sector.<\/p>\n

In the context of the current discussion, the investors of interest aren’t the ordinary STHs, but rather the humongous entities called whales<\/a>. Formally, these investors are defined as those holding more than 1,000 BTC in their wallets.<\/p>\n

At the current exchange rate, this lower limit is worth $61.5 million, which is massive indeed. Whales can be influential beings on the network because of these large holdings, so their behavior can be something worth keeping an eye on.<\/p>\n

The STH whales would naturally correspond to the large holders who only bought within the past five months. Here is a chart that shows the trend in the exchange outflows being made by these new whales in the Bitcoin market over the last few years:<\/p>\n

\"Bitcoin
The value of the metric seems to have been sharply going down in recent weeks | Source: @AxelAdlerJr on X<\/a><\/figcaption><\/figure>\n

As displayed in the above graph, the 7-day simple moving average (SMA) of the Bitcoin STH whale exchange outflows had spiked to pretty high levels earlier in the year, when the rally towards the new all-time high (ATH) price had taken place.<\/p>\n

Naturally, this spike would suggest demand for buying the cryptocurrency was high from new whale investors entering the space. At the peak, the indicator implied accumulation was occurring at the rate of a whopping 452,000 BTC per week.<\/p>\n

Related Reading: Bitcoin Will Be Set For New ATHs If It Breaks This Resistance: Analyst<\/a><\/div>\n

A part of this buying would correspond to the demand coming in from the spot exchange-traded funds (ETFs) – new investment vehicles for Bitcoin only approved at the start of this year that provide for an indirect way to invest into the asset in a format that may be preferrable for the more traditional investors.<\/p>\n

From the chart, it’s visible that the demand from the new whales has seen a clear decline in the period since the ATH, but accumulation nonetheless remains substantial as the STH whales are still potentially buying at a rate of around 200,000 BTC per week.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has continued to be stagnant recently as its price is trading around $61,600 right now, still very much inside the range.<\/p>\n

\"Bitcoin
Looks like the price of the asset has been mostly moving sideways over the last few days | Source: BTCUSD on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Andrew Bain on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 200,000 BTC every week. Short-Term Holder Bitcoin Whales Have Continued To Accumulate Recently As explained by CryptoQuant author Axel Adler Jr in a post on X, the demand among the short-term holder whales has decreased since the all-time high, although it still continues to remain strong. Related Reading: Buy Or Sell Bitcoin? Quant Reveals What Leading Metric Says The “short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. This cohort includes the new investors in the market, as well as the fickle-minded traders who make moves often and don’t tend to HODL. The investors who make it past the 155-day threshold are put inside the “long-term holders” (LTHs), which is a group that’s generally considered to reflect the resolute side of the sector. In the context of the current discussion, the investors of interest aren’t the ordinary STHs, but rather the humongous entities called whales. Formally, these investors are defined as those holding more than 1,000 BTC in their wallets. At the current exchange rate, this lower limit is worth $61.5 million, which is massive indeed. Whales can be influential beings on the network because of these large holdings, so their behavior can be something worth keeping an eye on. The STH whales would naturally correspond to the large holders who only bought within the past five months. Here is a chart that shows the trend in the exchange outflows being made by these new whales in the Bitcoin market over the last few years: As displayed in the above graph, the 7-day simple moving average (SMA) of the Bitcoin STH whale exchange outflows had spiked to pretty high levels earlier in the year, when the rally towards the new all-time high (ATH) price had taken place. Naturally, this spike would suggest demand for buying the cryptocurrency was high from new whale investors entering the space. At the peak, the indicator implied accumulation was occurring at the rate of a whopping 452,000 BTC per week. Related Reading: Bitcoin Will Be Set For New ATHs If It Breaks This Resistance: Analyst A part of this buying would correspond to the demand coming in from the spot exchange-traded funds (ETFs) – new investment vehicles for Bitcoin only approved at the start of this year that provide for an indirect way to invest into the asset in a format that may be preferrable for the more traditional investors. From the chart, it’s visible that the demand from the new whales has seen a clear decline in the period since the ATH, but accumulation nonetheless remains substantial as the STH whales are still potentially buying at a rate of around 200,000 BTC per week. BTC Price Bitcoin has continued to be stagnant recently as its price is trading around $61,600 right now, still very much inside the range. Featured image from Andrew Bain on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":607960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83982,5493,84852,92288,19064,1119,1144,92287],"class_list":["post-607916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-accumulation","tag-bitcoin-buying","tag-bitcoin-short-term-holders","tag-bitcoin-whale-buying","tag-bitcoin-whales","tag-btc","tag-btcusd","tag-newbie-bitcoin-whales"],"acf":[],"yoast_head":"\nNewbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows<\/title>\n<meta name=\"description\" content=\"On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows","url":"http:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-200000-btc-week-data\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-200000-btc-week-data\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/andrew-bain-zJ-9FHfTQzQ-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/andrew-bain-zJ-9FHfTQzQ-unsplash.jpg?fit=3219%2C2527"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin accumulation","bitcoin buying","bitcoin short-term holders","bitcoin whale buying","bitcoin whales","btc","btcusd","newbie bitcoin whales"],"dateCreated":"2024-05-14T15:00:24Z","datePublished":"2024-05-14T15:00:24Z","dateModified":"2024-06-11T07:01:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-whales-buying-200000-btc-week-data\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-whales-buying-200000-btc-week-data\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/andrew-bain-zJ-9FHfTQzQ-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/andrew-bain-zJ-9FHfTQzQ-unsplash.jpg?fit=3219%2C2527\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin accumulation\",\"bitcoin buying\",\"bitcoin short-term holders\",\"bitcoin whale buying\",\"bitcoin whales\",\"btc\",\"btcusd\",\"newbie bitcoin whales\"],\"dateCreated\":\"2024-05-14T15:00:24Z\",\"datePublished\":\"2024-05-14T15:00:24Z\",\"dateModified\":\"2024-06-11T07:01:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/andrew-bain-zJ-9FHfTQzQ-unsplash.jpg?fit=3219%2C2527","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/607916"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=607916"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/607916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/607960"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=607916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=607916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=607916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}