Bitcoin whales gobbled up more than $1 billion worth of BTC<\/a> amid the top crypto asset\u2019s price dip on Thursday, according to the crypto analytics firm IntoTheBlock.<\/p>\n IntoTheBlock notes<\/a> that whales holding more than 0.1% of the total BTC supply collectively accumulated 19,760 Bitcoins worth $1.235 billion, at an average price of $62,500 per coin.<\/p>\n Explains the firm,<\/p>\n \u201cHistorically, accumulations by these addresses have often preceded rises in Bitcoin\u2019s price.\u201d<\/em><\/p>\n IntoTheBlock also notes<\/a> that miners\u2019 BTC holdings hit a 12-year low going into the halving on Friday night, indicating that miners have been net sellers leading up to the event, which slashed Bitcoin\u2019s block rewards from 6.25 BTC ($398,134) to 3.125 BTC ($199,067).<\/p>\n The analytics firm also analyzes<\/a> the historical price impact of Bitcoin halvings.<\/p>\n \u201cThis chart shows BTC price performance after each Bitcoin halving. <\/em>Typically, a bullish trend emerges, lasting approximately one year after each halving.\u201d<\/em><\/p>\n IntoTheBlock notes<\/a> that $180 million worth of Bitcoin left centralized exchanges this week, making it six consecutive weeks of net outflows for the top crypto asset.<\/p>\n Bitcoin is trading at $63,921 at time of writing.<\/p>\n IntoTheBlock also notes that $0.5 billion worth of Ethereum (ETH<\/a>) was withdrawn from centralized exchanges this week, the highest amount since February.<\/p>\n Ethereum is trading at $3,057 at time of writing.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin whales gobbled up more than $1 billion worth of BTC amid the top crypto asset\u2019s price dip on Thursday, according to the crypto analytics firm IntoTheBlock. IntoTheBlock notes that whales holding more than 0.1% of the total BTC supply collectively accumulated 19,760 Bitcoins worth $1.235 billion, at an average price of $62,500 per coin. […]<\/p>\n","protected":false},"author":2,"featured_media":286821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-286820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/286820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=286820"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/286820\/revisions"}],"predecessor-version":[{"id":286823,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/286820\/revisions\/286823"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/286821"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=286820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=286820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=286820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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