Mid-Sized Wallets Flood Bitcoin Market with Record Buying Spree
Bitcoin saw significant buying activity from mid-sized wallets between July 15 and September 23. These wallets, holding between 100 to 1,000 BTC, acquired approximately 113,950 BTC, increasing their holdings by 2.22% to around 5.24 million BTC.
The price of Bitcoin hovered near $84,000 during this period, which coincided with a mid-August rally. This buying activity is historically linked to price movements in the cryptocurrency market.
Meanwhile, ETF inflows drove net investments of around $2.1-2.3 billion across September 17, 18, 21, and 22. The largest influx occurred on September 21, with approximately $999 million, including a significant portion from short liquidations within an hour.
Deribit is anticipating large spot CFD options expiry on Friday, with notable call-heavy open interest and in-the-money exposure. This event coincides with US data releases and CME futures settlement.