Bitcoin whale count tops 20K – Is a BTC supply crunch ahead?
Bitcoin (BTC) price declined toward $70,000, down 20.2%, but large holders continued accumulating, with wallets holding ≥100 BTC increasing by 753 to over 20,000. This reflects strategic buying during weakness, as strong hands absorb supply from weaker participants. Meanwhile, exchange balances decreased by about 5,500 BTC over 30 days, indicating coins are moving to custodial wallets. ETF inflows, totaling over $56.64 billion, reinforce this trend, with BlackRock’s IBIT holding nearly 765,000 BTC. The alignment of whale accumulation and institutional demand is tightening liquid supply, reducing sell-side pressure, and increasing the likelihood of a supply squeeze and potential upward price movement once demand strengthens.
ambcrypto03/20 15:35