- Deep-pocketed Bitcoin investors have spent over $800 million on BTC in the last three months.
- Bitcoin millionaires and billionaires have increased their BTC holdings to 11.5 million.
- Bitcoin’s low volatility indicates a potentially massive bull run, according to InvestAnswers.
Bitcoin’s BTC is making waves in the crypto world, with deep-pocketed investors splurging over $800 million on the king of crypto during the last three months. This significant accumulation has pushed the total amount of BTC owned by these investors up to 11.5 million, which is over half of BTC’s overall supply.
The surge in activity is likely due to a combination of factors, including the broader bull market for cryptocurrencies and the recent price rally for BTC. According to market intelligence firm Santiment, Bitcoin millionaires and billionaires have ramped up their activity since May, accumulating the top crypto asset by market cap at a high rate.
A popular crypto analyst from InvestAnswers suggests that Bitcoin’s low volatility is a sign of an impending bull market. Bitcoin has a history of going on massive runs almost every single time after a period of low volatility. In fact, Bitcoin’s current level of volatility is the second-lowest ever on record. The only time it was lower was back in 2017, right before the bull run that took Bitcoin up to $20,000.
Looking ahead, the future of Bitcoin in the crypto space appears bright. With the continued innovation in the Bitcoin ecosystem and the increasing adoption of BTC by merchants and businesses, Bitcoin is well-positioned to drive the next wave of growth in the crypto market.
