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Datum: 20.01.2024
The cryptocurrency market has experienced heightened volatility in the wake of the Ukraine invasion, driven by aggressive buying from crypto whales. Overall trade volumes have surged by 40%, pushing Bitcoin (BTC) above $42,000 and helping the total crypto market cap recover to $2 trillion.

Bitcoin Whales: Accumulating Confidence

On-chain data from Whalemap reveals that whales holding over 1,000 BTC have accumulated significant amounts at $36,000–$38,000, signaling confidence in the market. Bitcoin rebounded from $34,500 to $38,400, breaking key resistances at $38,200 and $40,700.

Ethereum Whales and SHIB

Ethereum whales have shown strong interest in Shiba Inu (SHIB), which saw a 54% price surge in one week. Whale wallets have been accumulating SHIB during price corrections, anticipating metaverse opportunities and broader adoption.

FTT Token, tied to the FTX platform, has also gained attention, with whales diversifying into other altcoins. Whale addresses holding 10,000–1 million ETH have shifted investments to tokens like FTT, signaling bullish sentiment.

Short-Term Outlook for BTC and ETH

Bitcoin is expected to correct slightly after recovering from $32,900, aiming to break the $45,000 resistance. Ethereum, trading near $3,070, has broken a key downtrend at $2,700 and is expected to follow BTC’s price trajectory.