The Cryptocurrency Market is Experiencing Strong Volatility, Whales and Institutions are Racing to Accumulate.
The cryptocurrency market has recently witnessed significant volatility. Bitcoin dropped below $100,000, while many altcoins like Ethereum, Hyperliquid, Cardano, and Virtuals plummeted by 20-30%. However, interestingly, whales and institutional funds are aggressively accumulating.
Whales are Actively Buying When Prices Drop.
Bitcoin is showing clear signs of accumulation. Wallets holding 10 BTC or more are gradually increasing, while the number of smaller wallets is declining. When large wallets start accumulating and retail investors lose confidence, that is when the market is preparing for a strong price breakout.
Companies like MetaPlanet and a large French enterprise are building a strong BTC reserve fund. MicroStrategy has also recently added nearly $26 million Bitcoin to its fund. Bitcoin ETF funds have recently poured nearly $1 billion into the market over the past two days. On June 24, the net inflow into spot Bitcoin ETF reached $589 million, marking the 11th consecutive winning day. The ETF purchase rate is three times the weekly mined supply, signaling an impending supply shock.
LINK and ADA Show Impressive Growth Due to Strong Accumulation.
Chainlink (LINK) is attracting the attention of large investors. Unlike the downward trend after token unlocks, LINK is trending upward due to significant capital inflow despite high prices. Data from Santiment shows LINK increased by 11% in a day with a record number of new holders reaching 769,380 wallets.
The number of active wallets has decreased by 17.3% over the past year, clearly indicating that long-term investors see this as a great opportunity to accumulate.
Chainlink is leading in the infrastructure of real assets and cross-chain communication, demonstrating durability and long-term trust from the community.
Cardano (ADA) is not far behind, as approximately $310 million ADA was accumulated in June, primarily from large investors. This stable buying confirms strong confidence in Cardano's future development. Additionally, the collaboration of founder Charles Hoskinson with major cryptocurrency projects like Bitcoin and XRP further enhances investor confidence.
Retail Investment is Not Everything.
New data from Santiment indicates the percentage of supply of top cryptocurrencies that are in profit. Bitcoin leads with up to 94.5% of its supply in profit. Chainlink holds the next position at 59.4%, while Cardano is at the lowest with 46.5%. This suggests that ADA may be undervalued and has significant room for growth if the market is activated again.
The strong accumulation by whales and large institutions, along with positive profit data, is opening up sustainable recovery prospects for the cryptocurrency market. Long-term investors and institutions continue to bet on fundamental assets, preparing for a new growth cycle full of potential.
Source: https://tintucbitcoin.com/2-altcoin-tiem-nang-ca-map-chon/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
