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According to a post published by cryptocurrency analyst and trader Ali Martinez, Bitcoin whales have accumulated more than 20,000 $BTC in less than a week, increasing their bet on the world’s largest cryptocurrency.
20,000 $BTC absorbed by whales
Martinez shared a chart by Santiment, showing that during the past two days, whale holders of 100-1,000 $BTC have purchased more than 20,000 $BTC. This amount of Bitcoin is valued at $2,106,678,000 in fiat at the moment.
During this period, the flagship digital currency has lost close to 4%, falling from the $108,900 zone to the $105,000 price level. The aforementioned Bitcoin holders took advantage of that price decline to increase their Bitcoin stashes.
Whales have bought over 20,000 #Bitcoin $BTC in the last 48 hours! pic.twitter.com/cCmQOpUV8X
— Ali (@ali_charts) May 29, 2025
Analysts believe that Bitcoin is likely to reach a new all-time high this year. Michael van de Poppe reckons that $BTC has lost a critical level of support, but it will hardly face a severe price decline. If Bitcoin manages to reclaim $106,500-107,000, he believes, then this “would be the party trigger sign for new all-time highs.”
As U.Today reported earlier, the founder and CEO of Galaxy Digital, Mike Novogratz, said that he expects Bitcoin to reach $130,000 or higher by the end of the year. Tim Draper sees $BTC hitting $250,000 within the same time frame.
BlackRock buys $480.62 million in $BTC
According to an X post published by the analytics account Lookonchain, on May 29, spot Bitcoin ETFs have experienced a total net flow of $430.25 million worth of $BTC. The largest Bitcoin chunk was absorbed by BlackRock’s IBIT — 4,476 $BTC valued at $480.62 million. Currently, this ETF holds 663,773 Bitcoin in total — that is worth $71.27 billion.
May 29 Update:
— Lookonchain (@lookonchain) May 29, 2025
10 #Bitcoin ETFs
NetFlow: +4,007 $BTC(+$430.25M)🟢#iShares(Blackrock) inflows 4,476 $BTC($480.62M) and currently holds 663,773 $BTC($71.27B).
9 #Ethereum ETFs
NetFlow: +30,183 $ETH(+$80.14M)🟢#iShares(Blackrock) inflows 19,977 $ETH($53.04M) and currently holds… pic.twitter.com/PoGNCC7oSp
There were two other ETFs that welcomed positive net flows — Grayscale Bitcoin Mini Trust (+328 $BTC) and VanEck Bitcoin ETF (+71 $BTC). In total this week, IBIT has seen inflows of 20,018 $BTC.
Glassnode reminded the community in a recent tweet that, last week, spot Bitcoin ETFs saw days of consecutive inflows of more than $300 million in Bitcoin per day. Ethereum ETFs have also seen large inflows. On Thursday, BlackRock sucked in 19,977 $ETH and in total 52,668 $ETH during the week. Grayscale Ethereum Trust absorbed 16,062 $ETH over the last week, while Fidelity bought 26,973 $ETH over the same period.