Strategy Buys $1.34B in BTC as Whales Quietly Continue to Load Up

Key Insights:Strategy now holds 568,840 BTC worth over $ 59 B.Whale wallets are pulling BTC off exchanges rapidly.Retail interest is low, but smart money is buying big.Strategy has once again increased its Bitcoin holdings. From May 5 to May 11, Strategy added 13,390 BTC at an average price of $99,856 per coin, totaling approximately $1.34 billion. This move reinforces Strategy’s confidence in Bitcoin as a treasury asset and further solidifies its position as an institutional leader in Bitcoin adoption.Strategy Now Holds Over 568,000 BTCWith its latest purchase, Strategy now holds 568,840 BTC, acquired for a total cost of $39.41 billion. The firm’s average purchase price stands at $69,287 per BTC, resulting in an unrealized profit of approximately $19.66 billion at current market prices.Source| XStrategy remains the largest public company holding Bitcoin, far outpacing any other public or private entity. As a Nasdaq 100 company and independent business intelligence firm, Strategy’s BTC strategy continues to attract institutional attention.Whale Activity Confirms Accumulation PhaseFurther supporting the broader bullish market sentiment, data from Lookonchain reveals that a newly created wallet recently withdrew 500 BTC, worth around $52.26 million, from Binance. This behavior on-chain signals a long-term hold, because assets moved away from exchanges tend to reduce sell-offs.Source| XMarket analysts believe this activity represents an accumulation strategy, possibly on the part of an organization or a high-net-worth individual. Moving Bitcoin from exchanges to personal wallets shrinks the market’s supply, which historically has encouraged upward price movement.Large amounts of Bitcoin removed from exchanges have tended to precede major gains because they represent confidence from smart money. Such developments adhere to a well-known pattern and support a continuing bullish market outlook.By continually buying Bitcoin, the Strategy demonstrates a belief in Bitcoin’s role within financial systems. Its approach often draws attention from firms considering digital assets.Whale Dominance Revealed by CVD and Order Book DataMaterial Indicators’ market data highlights a rising Cumulative Volume Delta (CVD) in high-value order flows. Whales are consistently placing buy orders ranging between $100,000 and $10 million, while retail-sized trades (under $10,000) remain subdued.Source| XAccording to the order book heatmap, resistance at $106,000 is starting to diminish, easing constraints on rising prices. The combination of major accumulations by large entities and weak retail activity often brings about breakouts when sentiment improves widely. Should the current trend hold steady, Bitcoin might advance into higher resistance areas shortly.Bitcoin Hits New Monthly High, Signals Strong Bullish ContinuationBitcoin’s monthly chart now displays its first all-time high monthly close, reinforcing long-term bullish momentum. According to @TATrader_Alan’s chart, every rounded bottom has led to an upward breakout, forming a stepped rally structure.Source| XA parabolic curve appears, suggesting that if the structure remains stable, sustained exponential growth may happen. After surpassing its highest point, Bitcoin may see next cycle targets extending to $150,000 or even more. A breakout at this level further confirms expectations of BTC’s bullishness extending to longer-term charts.DisclaimerIn this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.Olivia StephanieOlivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.The post Strategy Buys $1.34B in BTC as Whales Quietly Continue to Load Up appeared first on The Market Periodical.