Global #Bitcoin Whales

The number of Bitcoin wallets holding 100 BTC or more has reached a 17-month high, according to blockchain analytics firm Santiment.

Bitcoin’s market dynamics continue to bewilder investors and traders as they grapple with conflicting signals. Recent developments paint a complex picture: while whale movements hint at possible short-term turbulence, long-term holders and stable hash rates offer a counterbalance of optimism.

Recent turmoil in global markets has led to a sharp sell-off in both equities and digital assets, with Bitcoin suffering its most significant decline of the current cycle. This downturn has been driven by a complex interplay of factors, including the unwinding of the yen-carry trade, market deleveraging, and heightened geopolitical risks.

After a sluggish start to the week, Bitcoin (BTC) has sparked a notable rebound across the cryptocurrency sector. Over the past 48 hours, the flagship cryptocurrency has rallied approximately 2%, reaching a daily peak of around $57,267.

In a surprising move today, the cryptocurrency community was abuzz with news of a substantial Bitcoin (BTC) withdrawal from Binance, executed by a prominent whale known as "12QVsf." According to Spot On Chain, this whale withdrew a staggering 1,300 BTC, valued at approximately $85.6 million at current prices.

In a striking development for the cryptocurrency market, Bitcoin whales are once again making waves, this time with a substantial options bet signaling a bullish trend.