Bitcoin has shattered its previous record, hitting an all-time high of $107.1K, marking another milestone in its remarkable bull run.

As the price surges, the number of non-empty wallets on the network has risen to 54.62 million, reflecting a 5.2% increase in the past year. This surge in activity signals growing confidence in Bitcoin’s market dominance and long-term potential.

In the last 48 hours alone, Bitcoin whales have made significant moves, purchasing over 70,000 BTC, worth a staggering $7.28 billion. Two major institutional players were responsible for a bulk of this activity:

1. Mt. Gox:  

In the past 6 hours, Mt. Gox transferred 1,620 BTC, valued at $172.5 million. This transaction included 1,320 BTC sent to an internal wallet and 300 BTC to B2C2 Group. Since November 1, Mt. Gox has moved a total of 7,500 BTC (~$650 million), likely for creditor payouts. The current holdings of Mt. Gox stand at 37,404 BTC, worth approximately $4.02 billion.

2. Marathon Digital:  

Bitcoin mining giant Marathon Digital moved 22,044 BTC, valued at $2.34 billion, over the past 14 hours. These funds were dispersed across 40 new, unidentified wallets, and are currently held there. Marathon’s remaining holdings are estimated at 14,364 BTC ($1.54 billion).

The momentum doesn’t stop there. On December 16, Bitcoin spot ETFs saw a net inflow of $637 million, continuing a 13-day streak of positive inflows. BlackRock’s Bitcoin ETF, IBIT, led the charge with a remarkable $418 million in a single day.

Bitcoin’s price surge is accompanied by an increase in institutional participation, signaling a robust and thriving ecosystem. The momentum could continue as these key players take their positions in the market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: promesaartstudio/123RF // Image Effects by Colorcinch