Recently, Bitcoin whales, meaning large investors holding between 1,000 to 10,000 Bitcoins, have been unprecedentedly buying this cryptocurrency. According to the analysis of the famous YouTuber, Lark Davis, this trend started in March and intensified in April. Charts published by the analytical platform CryptoQuant show that from February until now, the inventory of these whales has significantly increased. While the price of Bitcoin has been in a corrective phase since mid-January, the whales have continued heavy buying alongside this decline. Alongside these developments, global liquidity conditions have undergone significant changes. According to Julio Moruno, the research director at CryptoQuant, the platform’s Bull Score index has been lower than 50 for 58 out of the past 60 days; a number historically consistent with bear markets. However, analysts emphasize that this situation does not indicate the end of the bullish market, as seeing corrections of more than 30% at this stage of the market cycle is normal. Studies show that global liquidity is now at its highest historical level. The strong correlation between global liquidity and Bitcoin price has been repeatedly confirmed over the past decade. Mike Alfred, a renowned market investor, also mentioned that the global money supply (M2) is growing. According to him, companies, governments, and even figures like Michael Saylor are increasing their cryptocurrency holdings. While the increase in liquidity may be due to central banks printing money, this is perceived as a positive signal for high-risk markets like crypto. However, the market situation remains negative in the short term. In the past 24 hours, the total crypto market value has decreased by 4%, and the price of Bitcoin has dropped from $86,000 to $83,270. Ethereum remains below $1,600, and most altcoins are trading in the negative range. On the page of the momentary prices of digital currencies, you can see the prices of all tokens and cryptocurrencies live and instantaneously.
