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New Bitcoin Whales Hold 1.97M Coins, What It Means For BTC?

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Summary
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69% Informative

Bitcoin whales have been accumulating a massive amount of BTC ( 1.97 million ) in newly created wallets.

New investors with fresh BTC holdings are emerging, possibly indicating institutional entry.

This accumulation phase coincides with a bullish "buying" trend and increased demand for BTC.

Bitcoin whales typically accumulate more than 1,000 BTC, such as whale wallets.

BTC open interest recently breached above the $21 billion level that has not been seen since the end of July .

This came after a severe drop post-August 5 , one of the most significant drawdowns this year .

At this high value, it does not want to be used for payments.