Bitcoin Whales Accumulate 20,000 BTC Amid Price Dip; BlackRock ETF Sees $480M Inflow

Bitcoin Whales Increase Holdings Amid Price Decline

Bitcoin whales have aggressively accumulated over 20,000 BTC in less than a week, according to data from Santiment. These whales, holding between 100-1,000 BTC, took advantage of Bitcoin's recent price dip, which saw BTC drop nearly 4% from $108,900 to $105,000. This strategic accumulation underscores growing confidence in Bitcoin's long-term potential.

Analysts Predict Potential New Highs for Bitcoin

Prominent analysts remain bullish on Bitcoin's outlook. Michael van de Poppe suggests that if Bitcoin reclaims the $106,500-107,000 range, it could signal a rally toward new all-time highs. Meanwhile, Mike Novogratz and Tim Draper have set ambitious targets, with Novogratz predicting BTC could reach $130,000 by year-end, and Draper forecasting a rise to $250,000.

BlackRock ETF Sees Significant Bitcoin Inflows

Spot Bitcoin ETFs have experienced substantial inflows, with BlackRock's IBIT ETF leading the charge. On May 29, IBIT absorbed 4,476 BTC, valued at $480.62 million, bringing its total holdings to 663,773 BTC, worth $71.27 billion. Other ETFs, such as Grayscale Bitcoin Mini Trust and VanEck Bitcoin ETF, also saw positive net flows, with IBIT alone accumulating 20,018 BTC during the week.

Ethereum ETFs Also Witness Strong Demand

Ethereum ETFs are mirroring Bitcoin's momentum, with significant inflows reported. BlackRock's IBIT sucked in 19,977 ETH on Thursday, with a weekly total of 52,668 ETH. Grayscale Ethereum Trust and Fidelity also saw notable ETH purchases, with 16,062 ETH and 26,973 ETH, respectively, over the same period.

Conclusion

The combination of whale accumulation, analyst optimism, and strong ETF inflows suggests continued confidence in Bitcoin and Ethereum's growth potential. As institutional and retail demand rises, these digital assets may be poised for further gains in the coming months.