- The sway of crypto whales leads to interest in their activities.
- Super whale Mr. 100 has ramped up their Bitcoin buying recently.
- Nearly all groups, including super whales, are heavily stacking BTC.
Crypto whales, or major holders of cryptocurrencies, have a substantial influence on token prices due to the size of their trades. As a result, whale watchers often monitor their activity to glean insights into potential future price trends and market shifts.
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This August, the mysterious Bitcoin super whale known as Mr. 100 has been particularly active, increasing the frequency of their BTC purchases as of last week. This behavior aligns with a broader accumulation trend across various cohorts, suggesting that a bullish market trend might be developing.
Mr. 100 Continues Stacking Bitcoin
Following the recent crypto crash, where Bitcoin fell to a 25-week low of $49,000, the market has shown signs of recovery. Over the past week, BTC has been between $56,200 and $61,900, indicating a degree of stability after the sell-off. Super whales, including Mr. 100, have been accumulating BTC despite the volatility.
Analysis of Mr. 100’s address reveals a significant net increase of 8,097 BTC since April, bringing their total balance to 69,150 BTC from 61,053 BTC. Since the start of August, Mr. 100 has accumulated over 5,434 BTC while selling 5,952.59 BTC in two transactions on August 7, just after the recent crypto crash, resulting in a net decrease of approximately 518 BTC for the month.
Nonetheless, Mr. 100 has been active every day in August, excluding the 9th, 17th, and 18th. Recent data shows a notable increase in buying activity, with multiple purchases of around 100 BTC on August 15, 16, and 19. On August 19 alone, Mr. 100 made six individual buys, indicating a strong intent to continue accumulating Bitcoin.
Super Whales Bullish
Mr. 100’s increased BTC purchases fit into a broader trend of accumulation seen across various cohorts. Recent Glassnode data, shared by Ravi Rajapaksha of Nextenco, reveals that nearly all groups have moved towards heavy accumulation, with super whales (more than 10,000 BTC) leading this trend since late July.
The Trend Accumulation Score by Cohort metric shows that most cohorts now have scores nearing 1 (dark blue), reflecting strong aggregate accumulation. However, cohorts holding between 10-100 BTC and those with less than 1 BTC are exceptions, with scores around 0.6, indicating a neutral to slight accumulation trend.
On the Flipside
- Whale activity may not indicate a market direction, as these holders have diverse strategies and motivations.
- The identity of Mr. 100 remains unknown, but given the substantial finances required to purchase BTC in batches of 100 regularly, it’s likely to be a state actor or major financial institution.
Why This Matters
Mr. 100’s recent buying spree is noteworthy, but what truly stands out is the broader accumulation trend across various groups. This widespread buying activity suggests that the market anticipates a rise in Bitcoin’s price over the coming weeks and months.
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