{"id":399183,"date":"2024-06-13T18:30:33","date_gmt":"2024-06-13T13:00:33","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=399183"},"modified":"2024-06-13T13:06:33","modified_gmt":"2024-06-13T07:36:33","slug":"bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\/","title":{"rendered":"Bitcoin: Whales make risky $1.3 billion bet as BTC tumbles"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">BTC has dropped back to the $67,000 price level.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">Some wallets took advantage of its fall in the previous trading session.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s [BTC]<\/a> price decline might have been bad news for some traders, but it presented an opportunity for others. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMBCrypto&#8217;s analysis showed that some addresses accumulated a significant volume of BTC as its price struggled over the last two days. Additionally, the supply of Bitcoin on exchanges has continued to decline.<\/span><\/p>\n<h2><b>Bitcoin accumulation addresses swell<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Per <a href=\"https:\/\/x.com\/cryptoquant_com\/status\/1800887936206123400?s=46\" target=\"_blank\" rel=\"noopener\">CryptoQuant<\/a>, as <a href=\"https:\/\/ambcrypto.com\/bitcoins-big-move-dormant-wallets-500m-transfer-spurs-market\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> was attempting to correct its price, some whales were accumulating. Notably, more than 20,000 BTC were accumulated in whale wallets during this period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A study of inflow into accumulation addresses showed that accumulation spiked during the period when BTC&#8217;s price fell, indicating strategic moves by these addresses. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This suggests that some traders were taking advantage of the lower prices to increase their holdings.<\/span><\/p>\n<figure id=\"attachment_399184\" aria-describedby=\"caption-attachment-399184\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses.png\"><img decoding=\"async\" class=\"size-full wp-image-399184\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses.png\" alt=\"Bitcoin accumulation addresses\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTC-Inflows-to-Accumulation-Addresses-1200x675.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-399184\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">An analysis of the accumulation showed that it was worth over $1.3 billion, with the price of BTC around $67,000. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This significant accumulation highlighted the strategic buying by whales during the recent price decline.<\/span><\/p>\n<h2><b>Bitcoin on exchanges declines further<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">AMBCrypto&#8217;s look at <a href=\"https:\/\/ambcrypto.com\/assessing-fed-rate-cut-odds-and-its-impact-on-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s<\/a> Supply on Exchanges showed that while accumulation increased, the supply on exchanges declined. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data from Santiment indicated a notable drop in BTC supply on exchanges between the 10th of June and the time of this writing. The chart showed that on the 10th of June, the Supply on Exchanges was 954,000.<\/span><\/p>\n<figure id=\"attachment_399185\" aria-describedby=\"caption-attachment-399185\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024.png\"><img decoding=\"async\" class=\"size-full wp-image-399185\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024.png\" alt=\"Bitcoin supply on exchanges\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-07.51.47-13-Jun-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-399185\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, as of this writing, the Supply on Exchanges had dropped to around 939,000. According to Santiment, this is the lowest supply of BTC on exchanges since 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This decline aligns with the accumulation trend and serves as a bullish signal.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The trend indicated that fewer BTC coins are available for sale, suggesting that a sharp price decline is unlikely in the near future. It also shows a strong belief in a higher future price among holders.<\/span><\/p>\n<h2><b>BTC sees a brief rebound<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">AMBCrypto&#8217;s examination of <a href=\"https:\/\/ambcrypto.com\/bitcoin-miners-sell-83m-in-btc-price-to-fall-below-67k-now\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> on a daily time frame showed a brief rebound at the end of trading on 12th June. The chart indicated that Bitcoin increased by over 1%, trading at around $68,248. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, at some point in the previous trading session, its price rose to the $70,000 price range.<\/span><\/p>\n<figure id=\"attachment_399186\" aria-describedby=\"caption-attachment-399186\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20.png\"><img decoding=\"async\" class=\"size-full wp-image-399186\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20.png\" alt=\"Bitcoin price trend\" width=\"1793\" height=\"740\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20-300x124.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20-1024x423.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20-768x317.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20-1536x634.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/BTCUSD_2024-06-13_07-33-20-1200x495.png 1200w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-399186\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s [BTC] Price Prediction<\/a> 2024-25<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">As of this writing, Bitcoin has lost most of its gains and has returned to the $67,000 price range. It was trading at around $67,350, with a decline of over 1.3%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As it has been doing for days, it remains close to its support levels. The support level, indicated by its short moving average (yellow line), is around $66,000 to $65,000.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whales accumulate over $1 billion in Bitcoin, and the next price move could make these addresses worth more or less.<\/p>\n","protected":false},"author":76,"featured_media":399190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,66,3,4,20],"tags":[6427],"class_list":["post-399183","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin: Whales make risky $1.3 billion bet as BTC tumbles - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Bitcoin attempted a price correction yesterday, but not until some whale wallets had accumulated over $1 billion worth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin: Whales make risky $1.3 billion bet as BTC tumbles - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Whales accumulate over $1 billion in Bitcoin, and the next price move could make these addresses worth more or less.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T13:00:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/Whales_but_more_Bitcoins-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Adewale Olarinde\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/WaleRexx\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adewale Olarinde\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"ReportageNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/\"},\"author\":{\"name\":\"Adewale Olarinde\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3ac3193a21ee61fa9d68ccd6bfa3885\"},\"headline\":\"Bitcoin: Whales make risky $1.3 billion bet as BTC tumbles\",\"datePublished\":\"2024-06-13T13:00:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/\"},\"wordCount\":465,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Whales_but_more_Bitcoins-1.webp\",\"keywords\":[\"ambcrypto\"],\"articleSection\":[\"Bitcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/bitcoin-whales-make-risky-1-3-billion-bet-as-btc-tumbles\\\/\",\"name\":\"Bitcoin: Whales make risky $1.3 billion bet as BTC tumbles - 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