Bitcoin's Long-term Holders Accumulate: 85k BTC Bought in 30 Days
CryptoNewsTerminal Staff10 Jul, 2024
Bitcoin's Long-term Holders Accumulate: 85k BTC Bought in 30 Days
CryptoQuant CEO Ki Young Ju revealed that non-custodial wallets with no withdrawal history, indicating long-term Bitcoin (BTC) holders, have acquired 85,000 BTC in the past 30 days. These wallets exclude exchanges, ETFs, and miners. In contrast to this accumulation, ETFs experienced an outflow of 16,000 BTC during the same timeframe. Ki Young Ju summarized the market sentiment, stating, "Someone is panicking, but someone is buying it (BTC)." This highlights the contrasting behaviors of market participants amidst the recent market volatility.