Global #large investors

Recent data from market intelligence platform IntoTheBlock reveals that Shiba Inu (SHIB) whales have been significantly reducing their holdings over the past 30 days.

As of August 6, 2024, Bitcoin (BTC) has experienced a notable price surge, trading close to $56,000 after a 10% rise in the last 24 hours. This recent rally has been underscored by significant whale activity, with a leading analyst reporting on X that these large investors accumulated over 30,000 BTC, worth approximately $1.62 billion, within just 48 hours.

The Bitcoin market is experiencing an interesting dichotomy. While large investors, often referred to as "whales," are rapidly accumulating Bitcoin, retail investor demand has sunk to a three-year low.

Pepe Coin (PEPE), the popular meme cryptocurrency, has been showing signs of a potential price surge, as large investors, often referred to as "whales," have been accumulating the coin at a key support level of $500 million. This accumulation could signal a growing confidence in PEPE's future prospects.

As per a recent report from CryptoQuant, large investors, often referred to as "whales," are accumulating Bitcoin at a rate reminiscent of the period before the 2020 bull market. The data from the firm indicates daily inflows of $1 billion into Bitcoin and a notable uptick in holdings by these whales, similar to patterns observed in mid-2020.