The post Whales Buy Billions In Crypto This Week Ahead of June Bull Market appeared on BitcoinEthereumNews.com.
The recent whale accumulation pattern strongly indicates that the next crypto bull run is imminent and will likely be far more explosive than the previous runs in this cycle. Take, for instance, Bitcoin. The fact that spot BTC ETFs saw three straight days of outflows drew plenty of headlines, entirely missing that the biggest whales are on a massive accumulation spree. Data from Santiment reveals that whales holding 10 to 10,000 Bitcoin added 79244 BTC, worth over $8 billion, just in the past week. Prominent analyst Ali Martinez also flagged this heavy buying, revealing that some of the biggest whales have added 36000 BTC in the past 96 hours. Meanwhile, the spot BTC ETFs also broke their 3-day trend of outflows, recording $375 million in inflows on Tuesday. These major stakeholders may finally be on board with Bitcoin’s strong correlation with the Global M2 money supply, which indicates that the largest cryptocurrency is headed to $150,000. However, the June crypto bull run could finally trigger an altcoin breakout against Bitcoin pairs, with multiple indicators now signalling a brewing altseason. Interestingly, whales are heavily accumulating altcoins as well. 3 Altcoins To Watch For Explosive Breakouts In June Ethereum (ETH) It is finally Ethereum’s time. The largest altcoin is seeing tremendous buying from whales and institutions. One particular transaction flagged by the on-chain data platform Lookonchain created a significant buzz. Galaxy Digital, a top digital services platform for institutional clients, purchased 89,000 ETH from various exchanges and then transferred 108,278 ETH, worth $283 million, to a whale/institution. This whale or institution now has 139,476 ETH, worth nearly $365 million. It seems that a whale/institution bought 108,278 $ETH($283M) through OTC. Galaxy Digital OTC wallet withdrew 89,000 $ETH($233.5M) from exchanges in the past 12 hours, and then transferred 108,278 $ETH($283M) to the whale/institution wallet…
