Bitcoin is currently trading at $94,800, continuing its strong upward trend over the past 24 hours. The digital currency is getting closer than ever to the important milestone of $100,000 – a price that the market has been waiting for for more than a decade.
Despite the impressive price increase of Bitcoin, large investors (whales) have not yet taken any profit-taking action. Instead, they continue to accumulate more Bitcoin at the current price. This shows that Bitcoin’s future price growth potential is still very large.
According to data from IntoTheBlock, the amount of Bitcoin outflow from the largest wallets has remained significantly low throughout the year. This reinforces the view that large investors are still holding their positions despite the strong growth of Bitcoin.
The data also shows that 100% of investors are currently holding Bitcoin at a higher price than they bought it for, meaning that all are “in the money” – a clear signal that current gains are spread across the entire market.
Bitcoin prices continue to climb as crypto investment products see record inflows of $33.5 billion, with over $2.2 billion flowing in over the past week alone.
The strong momentum in crypto investment products, with total assets under management hitting an all-time high of $138 billion, reflects growing confidence in the market. Notably, Bitcoin ETFs attracted $816.4 million on November 19 alone.
