Breaking News! A Whale Sells 34,110 Bitcoins in 11 Days, Huge Capital Flows into Ethereum! Is This a Crypto Market Earthquake or the Start of a New Era?
Event Summary: Recently, the market has experienced a shocking wave! On-chain data shows that an "ancient whale" has sold a total of 34,110 Bitcoins in the past 11 days, worth approximately $3.7 billion, and has converted all of it into 813,298 Ethereum. Even more astonishing, this whale concentrated the sale of 7,000 Bitcoins in just over the last 50 hours.
The Whale's "Ethereum Frenzy": The whale's actions may be closely related to significant positive developments in Ethereum's fundamentals. Data indicates that the supply of stablecoins on the Ethereum network has surpassed $160 billion, setting a new historical high, and has nearly tripled since January 2024. This suggests that the liquidity and potential attractiveness of the Ethereum ecosystem are rapidly increasing.
Current Positions and Market Trends: As of now, the whale still holds approximately 46,000 Bitcoins, valued at about $5 billion. The market generally speculates that this portion of holdings may flow back into the market again.
Market Sentiment and Institutional Behavior:
"Smart Money" is Gathering: The good news is that the group of "medium whales" holding between 100 to 1,000 Bitcoins continues to increase their positions, indicating that large funds are taking advantage of Bitcoin's price correction to gradually accumulate. Data shows that between $100,500 and $107,000, 1.5 million to 40,000 Bitcoins have been accumulated, and another 1.5 million Bitcoins have been absorbed in the $93,500 to $98,500 range.
"Holders" Remain Steadfast: Despite Bitcoin's price briefly dropping below $110,000, the holding volume in the $112,000 to $118,000 range has not significantly decreased. This indicates that even during the correction period, new investors have not lost confidence.
Macroeconomic Indicators:
High Expectations for Interest Rate Cuts: The market's expectation for a rate cut in September is as high as 87.4%, injecting positive signals into the market.
Labor Market Data Takes Center Stage: The most critical market catalyst this week will be labor market data. Job vacancies, the JOLTS report, and the NFP data will be released from Wednesday to Friday, with Friday's unemployment rate and employment report likely to be key drivers of market sentiment.
Crypto Market Analysts' Reminder: The whale's actions have undoubtedly brought significant volatility to the market, but we must also recognize the positive signals from institutional capital accumulation and favorable macroeconomic expectations. Moving forward, please closely monitor the Federal Reserve's monetary policy direction and the release of key economic data, as they will determine the future trajectory of the market.
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