Unidentified whales buying large amounts of Bitcoin through privacy transactions, raising questions.

From Investing.com

December 26, 2024 10:30 AM:

Crypto analyst Ki Young Ju commented on recent whale transactions where whales have been buying tons of Bitcoin. Bitcoin is currently trading at $95,772 after a 3.6% drop. Ju believes retail investors are staying away, allowing whales to dominate the market. Whales are actively buying Bitcoin, with $7 billion entering weekly.

Institutional buyers like spot Bitcoin ETFs, MicroStrategy, and custodial wallets have accumulated 1.55 million BTC this year. Whales are using privacy transactions to transfer funds to new institutional investors. Some transactions, totaling 240K-420K BTC, remain unidentified. Ju questions, “Who are these mysterious whales?”

Read more at Investing.com: Unidentified Whales Buy 240K-420K Bitcoins This Year: CryptoQuant CEO By U.Today