Institutional Conviction Drives BTC and ETH Accumulation Amidst Market Volatility
Institutional Conviction Drives BTC and ETH Accumulation Amidst Market Volatility
Despite recent market dips, major cryptocurrencies Ethereum (ETH) and Bitcoin (BTC) are witnessing significant accumulation from institutional investors and whales. Ethereum whales aggressively purchased $1.37 billion in ETH following a 12% price drop, signaling strong long-term conviction. Similarly, MetaPlanet secured a $100 million BTC-backed loan for additional Bitcoin acquisitions, emphasizing an institutional belief in its long-term treasury value. These actions underscore a divergence between short-term market fluctuations and a deep-seated conviction from large holders in leading digital assets.
Major Cryptocurrencies See Strong Whale and Institutional Accumulation
Recent market movements indicate a significant trend of accumulation for leading cryptocurrencies, Ethereum (ETH) and Bitcoin (BTC), despite prevailing price drops and bear market sentiments. Ethereum experienced a a 12% decline in November, yet this was met with aggressive buying from whales, who acquired an estimated $1.37 billion in ETH. This substantial inflow from large holders suggests a renewed long-term conviction in Ethereum's upside potential, as evidenced by ETH withdrawals from exchanges.
In a similar vein, Bitcoin, despite entering what some describe as a 'bear market,' saw MetaPlanet secure a $100 million BTC-backed loan specifically for additional purchases. This strategic move by MetaPlanet underscores a significant institutional conviction in Bitcoin as a long-term treasury asset, effectively defying short-term volatility. The actions across both ETH and BTC highlight a clear pattern: large-scale investors are using market dips as opportunities for strategic accumulation, reinforcing a long-term bullish outlook for these core digital assets.
Beyond these primary assets, the broader crypto ecosystem continues to evolve with infrastructure developments, such as Bitget's integration with Morph Chain to pioneer onchain payments, facilitating trading of Morph assets with USDT.