Coin World News:
Recently, due to the recovery of market confidence, the trading volume of Bitcoin whales has increased significantly, reaching a historic high. Data shows that in the past day, the number of whale transactions exceeding $100,000 reached 11,697, the highest level in more than ten weeks. This growth indicates that major holders are strategically shifting or acquiring Bitcoin in preparation for future price increases. At the same time, discussions about Bitcoin on social media have also significantly increased, reflecting its dominant position in the cryptocurrency market. I believe that the current bull market may surpass previous cycles, and the market outlook is optimistic.
Given the recent broader market confidence, large-scale investor trading (also known as whales) has soared to new highs, and Bitcoin network activity has increased significantly. Compared with the trading volume of the past few days, the growth is very significant as the prices of cryptocurrency assets begin to rebound from the lows.
Bitcoin whale trading volume hits a record high
Bitcoin whale trading has increased significantly in the last day, reaching a new high, indicating increased activity by major holders. Specifically, this significant increase marks the highest level in more than ten weeks.
About 11,697 whale transactions exceeding $100,000 were recorded on the network, the highest level since August 4 when the Japanese stock market crash led to a general market decline.
The increase in large-volume transactions indicates that major investors are either strategically shifting or acquiring a large amount of Bitcoin in preparation for a significant price increase in the coming months.
As Bitcoin prices continue to rebound, investors and traders are closely monitoring these large transactions, as this development may indicate a crucial moment for the Bitcoin market in the short term.
Meanwhile, with the increase in whale transactions, there has been a significant shift in social media discussions about Bitcoin. Discussions about BTC on social media platforms have surpassed altcoins, reflecting its status as the leading cryptocurrency asset in the industry.
Since July 27, Bitcoin has accounted for approximately 25.5% of social media discussions about cryptocurrency assets for the first time. This significant growth is attributed to BTC recently breaking through the $68,000 level of the past two months, with investors betting on this digital asset.
Although these developments are seen as bullish indicators, these signs suggest that intensified FOMO sentiment and profit-taking by major stakeholders may delay the next rebound. However, as long as mid-term and long-term indicators remain positive, any price decline from now on may be temporary.
Will this bull market outperform previous ones?
The current bull market of BTC in this cycle may outperform previous cycles.
This is because the current accumulation phase of Bitcoin is compared to previous cycles such as 2016 and 2020, and it can be observed that the current phase of this cycle is “lasting longer.” Therefore, I believe that the next parabolic wave may be “more epic,” as the longer accumulation period suggests that BTC may experience a larger bull market.
