Bitcoin Whales Amass $5 Billion in 10 Days, Sparking Market Speculation

TL;DR
1.BTC Surges Above $52,000: ETF Launches Drive Growth.
2.Bullish Bitcoin Predictions: $200K to $600K by 2026.

Bitcoin ($BTC) has witnessed a remarkable surge, surpassing $50,000 for the first time since December 2021. Despite this impressive milestone, BTC whales continue to accumulate, driving further speculation in the market.

Whale Accumulation Continues

BTC, currently trading above $52,000, has surged nearly 100% in the past six months, driven by the launch of spot Bitcoin exchange-traded funds (ETFs) in the US. These ETFs have attracted significant net flows, exceeding $4.5 billion, according to data from BitMEX Research.

Renowned cryptocurrency analyst Ali Martinez reports that Bitcoin whales, representing addresses with substantial BTC holdings, have accumulated over 100,000 BTC in the last ten days alone, equating to a staggering $5 billion. The inclusion or exclusion of spot Bitcoin ETF addresses in this data remains unclear. Nonetheless, this accumulation underscores the increasing pressure on Bitcoin's supply ahead of the upcoming halving event in April, which will halve the coinbase reward for miners.

Predictions Amid Supply Shock Speculation

Analysts have made bullish price forecasts for Bitcoin, anticipating a supply shock post-halving, where new BTC supply will decrease. Tuur Demeester predicts Bitcoin's value could surge to between $200,000 and $600,000 by 2026, fueled by substantial government bailouts and stimulus.

Anthony Scaramucci, founder of SkyBridge Capital, maintains a conservative price prediction of $170,000, based on multiplying the price at Bitcoin's halving by four. However, given the current momentum, he suggests this estimate could be surpassed.

Conclusion:Bitcoin Whales Fuel Speculation

Bitcoin's surge above $50,000 coincides with significant accumulation by whales, fueling speculation in the market. Analysts predict further price increases, buoyed by the anticipation of a supply shock post-halving and external economic factors.