Bitcoin whales in accumulation phase with BTC halving just a week away

Bitcoin halving is scheduled for April 20, reducing the BTC block reward to 3.125 BTC per block.

As the halving date approaches, Bitcoin (BTC) whales have been acquiring a significant amount of BTC over the past week. With just a week left before the fourth Bitcoin halving — which will see the block reward reduced to 3.125 BTC — the growing demand by whales indicates bullish market sentiment.

According to data shared by crypto analytic firm CryptoQuant, the growth in demand from Bitcoin whales has never been stronger.

Demand from “permanent holders” has exceeded the market supply of new Bitcoin for the first time. This indicates that the quantity of new Bitcoin produced by mining is insufficient to meet cryptocurrency investors’ demand, and the scarcity will only grow further after the halving of the Bitcoin.

Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

Please enter CoinGecko Free Api Key to get this plugin works.