The big holders of Bitcoin (BTC), commonly known as whales, again buy more assets after a period of lull in early January and a period of profits, according to cryptocurrency data.
The monthly growth in percentage of bitcoin assets of large investors has accelerated, going from -0.25 % on January 14 to +2 % on January 17, the highest monthly rate since mid -December.
Such growth is explained by the arrival of Donald Trump to the presidency of the United States, where traders expect it to set up pro-Crypto policies and constitutes a Bitcoin strategic reserve, two events which could fuel institutional capital in short -term assets. Key factor for BTC demand and price. Among the leading recent buyers are the Bitcoin Microstrategy development company and the Kulr energy management systems company.
As such, the sales pressure for Bitcoin was considerably reduced after having made daily benefits of up to $ 10 billion while the asset approached the $ 100,000 in December. Long -term bitcoin holders, considered to be “smart money”, have sold more than a million BTC since September, and this behavior seems to have reached its lowest level, as noted on Wednesday an analysis of Coindesk.
At the same time, the unrealized recipient margins of traders are now close to zero. In terms of cryptography, this often acts as a floor price during a bull market, which suggests that we could be at a stable point before the next movement.
However, according to cryptocurrency, Bitcoin’s cash demand seems to calm down.
“The apparent demand for Bitcoin continued in the expansion territory (green area in the left graph). However, the expansion rate went from 279,000 bitcoins in early December 2024 to 75,000 bitcoins today, “the company said in its Friday report.
Apparent demand is a chain measure used to assess the balance between Bitcoin production (newly struck parts thanks to mining) and changes in its inventory (inactive parts for more than a year).
“The growth in demand must accelerate again so that prices go up significantly,” he adds.
