FLOWUSD Flow

Over the past few days, Bitcoin (BTC) has seen a significant surge in whale accumulation. Ali highlighted that the “number of BTC addresses holding 100+ BTC increased from 15,913 to 16,006 during the recent correction. While this trend is noteworthy because it suggests whales bought the dip, Ki Young Ju, the CEO of CryptoQuant, an on-chain data aggregator, has spotlighted that it also suggests a calculated buildup of Bitcoin by influential players in the shadows. Related Reading: Bitcoin Bull Run Still Intact? Here’s What On-Chain Data Says The Hidden Bitcoin Agenda Revealed Ki Young Ju’s observations stem from his analysis of Bitcoin transactions over the last month, revealing a massive shift of nearly half a million BTC into what is described as “permanent holder wallets.” Ju noted: I’m pretty sure something is happening behind the scenes. 404,448 Bitcoin have moved to permanent holder addresses over the past 30 days, and it’s clearly accumulation. We’ll know within a year. This transfer, amounting to roughly $22.94 billion, signals routine market behavior and a strategic accumulation that hints at plans by major financial entities or even state actors. This activity was first hinted at three weeks prior when Ju reported an unusual movement of 385,000 BTC into cold storage, highlighting a pattern of behavior among Bitcoin whales that diverges from typical market operations. #Bitcoin is in an accumulation phase. Over the past month, 358K BTC has moved to permanent holder addresses. In July, global spot ETF inflows were 53K BTC. Though not all remaining BTC is in custody wallets, whales are clearly accumulating. And it’s an unprecedented level. pic.twitter.com/Cyl2ZVhIIX — Ki Young Ju (@ki_young_ju) July 24, 2024 What Are The Consequences? The implications of such heavy accumulation are quite profound. Ju said this could be the prelude to a major revelation, where traditional financial institutions, companies, or even governments might disclose substantial Bitcoin acquisitions made during this period. He suggests that within a year, the public could learn that these entities have been quietly building their Bitcoin reserves throughout the third quarter of 2024. This strategic accumulation, Ju theorizes, could be a move to secure a substantial stake in the world’s flagship cryptocurrency in anticipation of or in response to broader economic shifts. This theory is further boosted by distractions in the crypto space, such as the German government’s sale of BTC and the U.S. government’s disposal of Bitcoin related to the Mt. Gox debacle. Related Reading: $0 Flows: BlackRock Unshaken Despite Recent Bitcoin Market Crash, Data Shows These events may have diverted retail investors’ attention from the more significant, ongoing accumulation by larger institutional actors. So here’s what’s going to happen: Within a year, some entities—whether they’re TradFi institutions, companies, governments, or others—will announce that they’ve acquired #Bitcoin in Q3 2024. And retail investors will regret not buying it because they were worried about the… — Ki Young Ju (@ki_young_ju) August 6, 2024 Featured image created with DALL-E, Chart from TradingView