Whale Bitcoin Starts Nyerok 1,750 BTC Ahead Of ETF Launch In US

Crypto whales are starting to add Bitcoin coffers. (Photo; Doc; Lapthrinx)

JAKARTA - Bitcoin, the largest digital asset by market capitalization, is increasingly in demand by various groups. This is inseparable from the potential launch of the Exchange-Trad Funds (ETF) Bitcoin in the United States (US), triggering large investors or whales to compete to accumulate Bitcoin. On-chain data shows that the volume of whale transactions has reached its highest point since June 2022.

Based on data from LookOnChain, a crypto transaction data provider, one of the whales recently took strategic steps by buying 1,750 BTC (around Rp 1.19 trillion) from the world's most popular crypto exchange, Binance. The Pope bought Bitcoin at a price of $43,953 (Rp 682.9 million) per BTC.

This is a continuation of the previous massive accumulation action, in which the same whale collected 6,000 BTC (worth IDR 2.46 trillion) from August 24 to September 2, with an average price of $26,444 (IDR 410.5 million) per Bitcoin.

By taking advantage of market conditions, this whale then resells 3.000 BTC (approximately IDR 1.64 trillion) to Binance as prices rose to $35.241 (IDR 546.8 million), recording a profit of IDR 409.8 billion. Recent data show that this clever whale now has a total of 4.750 BTC, with a value of IDR 3.21 trillion.

On the other hand, this week is a crucial moment for the long-awaited launch of the Bitcoin ETF in the US, with several important deadlines to be met. According to a Bloomberg News report, potential Bitcoin ETF publishers have until Monday morning Washington time to make the final revision on their proposal.