Along with the recovery of the cryptocurrency market, Bitcoin (BTC) transactions reached a new peak in 2023. In particular, online data shows increasing activity levels of whales electronic money.
This increase in large BTC transactions comes amid a high likelihood of a Bitcoin ETF spot being approved in the United States, creating great excitement and optimism among the virtual currency investor community.
At the same time, an emerging Bitcoin mining token called Bitcoin Minetrix (BTCMTX) has also been attracting significant attention, raising more than $2.9 million from early investors through a presale program. native token BTCMTX.
Bitcoin Whale Trading Rises to 2023 High as Big Investors Start Accumulating Wealth
The number of high-value Bitcoin transactions has increased significantly in recent weeks, reaching its highest level since the beginning of the year.
According to an article from CoinDesk, the number of BTC transfers worth over $100,000 reached 23,400 transactions last week – surpassing the previous 2023 high set in late June.
This spike in Bitcoin cryptocurrency whale activity comes after the Bitcoin price quickly crossed the $35,000 mark, reaching its highest level since May 2022.
Analysts believe that several key factors are driving this increase in Bitcoin transactions.
First, the catalyst is the optimism of the crypto investor community around the possibility of a Bitcoin ETF spot being approved by the SEC in early 2024. Bitcoin ETF spot applications from regulators Large asset managers like BlackRock are said to be nearing their final stages.
Additionally, rising inflation this year has further increased Bitcoin’s appeal as the perfect asset to hedge against the effects of inflation.
More and more individuals and high net worth investors are looking at BTC as a store of value in the current uncertain economic context.
Overall, the combination of regulatory changes, inflation concerns, and changing perceptions of Bitcoin is contributing to a significant increase in high-value Bitcoin transactions.
Bitcoin Options Traders Bet on Further Rise in BTC Price
This bullish sentiment from crypto whales is supported by recent data from the Bitcoin options market. This shows that coin traders are increasingly confident in the possibility of BTC prices increasing further.
Between October 23 and October 24, BTC options trading volume increased to its highest level in more than six months, coinciding with the spike in Bitcoin prices on those days.
According to analytics firm Laevitas, Bitcoin options interest also hit a 12-month high on October 26, as cryptocurrency investor activity showed signs of surging.
Analysts believe this “frenzy” in BTC options trading signals confidence that Bitcoin prices will continue to rise in the final weeks of fiscal 2023.
Put/Call Ratio (PCR) has also been consistently maintained below 1 in the second half of October, showing strong demand for call options from Bitcoin traders looking to benefit from potential profits. power.
High demand for call options and low put-to-call ratio suggests that most traders are betting on the price of Bitcoin to rise rather than fall.
Such levels of community optimism often result in a sharp increase in the price of Bitcoin – attracting more buyers and creating a “snowball” effect.
Bitcoin Minetrix Enables Users to Earn Passive BTC Payments and Quickly Raise Up to $2.9 Million
As Bitcoin whales accumulate and options traders bet on further BTC upside, another sector of the crypto market that is also heating up is the cryptocurrency mining sector.
And a rapidly growing project in this space is Bitcoin Minetrix (BTCMTX), a new platform that tokenizes BTC mining with a unique cloud mining feature, currently in the process of implementing a presale program. .
The core innovation of the Bitcoin Minetrix presale project is its unique and valuable staking-to-earn mechanism.
Users can purchase the native BTCMTX token and stake it to earn mining credits (which cannot be transferred or traded). These credits can be burned to access the powerful cloud mining power of the Bitcoin Minetrix platform.
Through this advanced mechanism, Bitcoin Minetrix users can earn recurring BTC payments without needing to own expensive mining hardware or require advanced expertise.
Not only that, users can also pledge their BTCMTX tokens to the staking pool and earn up to 206% yield per year.
Bitcoin Minetrix’s presale program has raised more than $2.9 million as investors look to invest in the future of decentralized mining.
BTCMTX tokens are currently priced at just $0.0113 each in the presale, although they will increase by 10% in less than two days.
With 42.5% (equivalent to 1,700,000,000 tokens) of the total BTCMTX supply earmarked for Bitcoin mining, and a clear roadmap, cryptocurrency investors have flocked to Bitcoin Minetrix’s Telegram channel. to update the latest developments of the project that is considered the future of online coin mining.
As crypto whales snap up BTC and options traders buy in, Bitcoin Minetrix offers another avenue to capitalize on positive market sentiment with the world’s number one cryptocurrency Bitcoin – benchmark destined for a good ending to 2023.
