Large cryptocurrency holders have accumulated $ 1.4 billion, expecting bitcoin’s historic growth

According to crypto analyst Ali, bitcoin whales have recently transferred 21,400 BTC worth about $ 1.40 billion to wallet addresses. Such a significant transfer of assets to long-term addresses indicates a bullish outlook among these market players.

«21,400 BTC, worth about $ 1.40 billion, have been moved to storage addresses ,» Ali wrote on the X platform, attaching a graph to his post showing the surge in BTC inflows to storage addresses.

Sinking addresses are addresses that have received at least two transfers and have never spent any funds. The transfer of 21,400 BTC to the wallet addresses coincides with a period of volatility and uncertainty in the cryptocurrency market. The bitcoin rate declined at the beginning of the month and quarter after an unexpected rise in the dollar index (DXY).

Bitcoin fell to a low of $ 64,500 on April 3, after which it recovered slightly. Over the previous 24 hours, the price of BTC rose by 1.9% to $ 67,083 at the time of writing.

The movement of such a large volume of bitcoins to these addresses may indicate a strategic decision by the whales to hold on to their assets in anticipation of future price increases. One of the key factors of optimism in the bitcoin community is the upcoming halving of BTC $76,334.31 Bitcoin 0.38% Market capitalization $1.51 trillion VOL. 24 hours $3.38 billion . This decrease in the rate of new bitcoin creation is expected to make the supply of cryptocurrency even more scarce.