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There is a growing fear that Bitcoin is at risk of a 51% attack, as two mining pools, Foundary and AntPool, have gained over 51% control of the total network hashrate. Recent on-chain data shows that Foundry USA currently controls 33.63% of Bitcoin mining hashrate, followed by AntPool, which sits at 17.94%. Together, the two firms hold nearly 52% control of the Bitcoin mining network, which many have deemed a centralization risk. It becomes even more concerning seeing Foundry USA mine six blocks , and sometimes eight blocks, in a row. There has never been a successful 51% attack on Bitcoin. But should you be worried now? Or is this another FUD? Well, the concerns are valid, but overstated. Is BTC at risk of a 51% attack? A 51% attack on Bitcoin can only occur when a single entity controls more than half of the network’s hashrate, at least 51%. With that dominance, the attacker can reorganize blocks, double-spend their own coins, censor transactions, and even monopolize Bitcoin mining . It’s a direct threat to the Bitcoin network’s integrity, which is why news around a majority control of BTC hashrate usually carries an unsettling concern. In the case of Foundry and AntPool, the risk is somewhat present, but it is most likely not to happen. It would require a consortium of both pools to successfully pull a 51% attack on the Bitcoin network, but that would the detrimental to their business. Recall that Foundry and AntPool are not miners themselves. Rather, they are just pools that consolidate the hashpower from thousands of individual miners around the world. They don’t own all that hardware. So, achieving that perfect collusion of both pools, where thousands of individual miners therein agree to come together to double-spend, is simply far-fetched. An attempt would only hurt the businesses, as most of the miners, who are true to the Bitcoin network, would switch to different pools. Bitcoin’s first 51% attack scare This is not the first time Bitcoin has faced a 51% attack concern. The most common scare happened in 2014, when another mining pool dubbed GHash.io briefly gained control of over 51% of the network hashrate. According to reports, GHash.io’s dominance was the case that proved, in fact, possible for a single entity to gain a majority of the network’s mining power. The Bitcoin community responded with immense social pressure. Forums like Reddit and BitcoinTalk exploded with calls for miners to leave GHash.io and diversify their hashrate. Although GHash.io never attempted to carry out a malicious attack, most of the miners subscribed to the pool voluntarily left the pool amid the social outcry, causing its hashrate to drop back below 50%. Centralization by industry, not by protocol The original idea for Bitcoin mining was to decentralize the network, where anyone with a computer could participate in mining. But over time, the difficulty and entry barrier have increased, which has led to the consolidation of these miners for consistent and predictable profits. Foundry and AntPool gaining over 51% control of the total hashrate isn’t really a case of a de facto centralization of the Bitcoin network. Industrial centralization is a more accurate description of what’s actually happening. Bitcoin mining, rather than the protocol itself, is becoming centralized, with only five pools controlling nearly 80% of the global hashrate . It’s now more difficult for small and solo miners to compete, which erodes Bitcoin’s decentralization ethos. It could get worse from here. As the difficulty and competition toughen, the largest and most profitable pools will continue to attract the most hashrate, causing the hashpower to become even more centralized.
COINOTAG News on August 22 cited CryptoQuant Research Director Julio Moreno, who stated the Bitcoin Bull Market Index has moved from the “Bullish Chill” phase to a “Neutral” regime after
Bitcoin whale transfer: 4,999 BTC (≈ $568M at $113,800) was moved from a deep-pocket address to a brand-new wallet in a single transaction. The transfer paid a microscopic 0.00000226 BTC
BitcoinWorld Bitcoin Whales Unleash Massive 16K BTC Accumulation Amidst Dip The ever-evolving cryptocurrency market is a fascinating landscape, and right now, a powerful narrative is unfolding: the strategic movements of Bitcoin whales . These are the colossal holders of BTC, whose actions can significantly influence market dynamics. Recently, a remarkable trend has emerged, capturing the attention of analysts worldwide. Over the past seven days, these influential entities have made a substantial move, collectively accumulating over 16,000 BTC. This massive acquisition is not random; it clearly signals a compelling “dip buying” pattern, indicating a calculated and strategic positioning amidst recent market fluctuations. Understanding the behavior of these Bitcoin whales is crucial for anyone navigating the volatile yet rewarding world of digital assets. What Are Bitcoin Whales Doing Right Now? In a revealing observation by CryptoQuant contributor Cauê Oliveira, it’s clear that Bitcoin whales have been exceptionally active. Over the past seven days, these influential wallets have collectively added more than 16,000 Bitcoins to their holdings. This isn’t just random buying; Oliveira interprets this as a deliberate “absorption” strategy, where large players soak up available supply during price drops. Significant Accumulation: Over 16,000 BTC added in one week. Strategic Behavior: Identified as part of a “dip buying” and “absorption” pattern. Influential Players: These movements often precede or coincide with market shifts. This kind of activity from Bitcoin whales often provides crucial insights into market sentiment and potential future trends. It showcases their conviction in Bitcoin’s long-term value, even when prices face temporary setbacks. Why Do Bitcoin Whales Engage in Dip Buying? So, why are these colossal holders of Bitcoin making such moves? Bitcoin whales typically operate with a long-term perspective, aiming to capitalize on market downturns. A “dip” represents an opportunity for them to acquire more assets at a lower price, strengthening their position for future rallies. It’s a classic investment strategy: buy low, sell high. Historically, periods of significant whale accumulation have often coincided with market bottoms or preceded notable price recoveries. They possess the capital and the market understanding to make calculated risks. For instance, when smaller investors might panic sell, Bitcoin whales often see underlying value and step in to buy. This absorption helps stabilize the market by taking selling pressure off, preventing more drastic price slides. What Does This Whale Activity Mean for the Market? The recent accumulation by Bitcoin whales carries several significant implications for the broader cryptocurrency market. Firstly, it strongly suggests an underlying confidence in Bitcoin’s future value among these large investors. When those with the most capital are actively buying during price dips, it often sends a reassuring signal to smaller participants, hinting at a potential bullish outlook or at least a belief that current prices represent attractive entry points. This “absorption” phase by Bitcoin whales helps to stabilize the market by reducing available supply at lower prices. However, it’s crucial to remember that whale movements, while powerful indicators, do not guarantee immediate price surges. The crypto market is influenced by a multitude of factors, including macroeconomic conditions, regulatory news, and technological developments. Yet, their consistent “dip buying” pattern points towards a long-term strategic play rather than short-term speculation. Consider these actionable insights derived from observing Bitcoin whales : Market Confidence Indicator: Significant whale buying can serve as a robust signal of institutional or large-investor confidence, potentially encouraging broader market participation. Potential Price Support: Their substantial accumulation can establish strong support levels for Bitcoin, making further significant price drops less likely in the immediate future as buying pressure increases. Long-Term Perspective: This consistent pattern of buying dips aligns with a long-term investment strategy, suggesting that these powerful entities anticipate considerable future appreciation for Bitcoin. Risk Assessment: While informative, always conduct your own research. Whale activity is one piece of a complex puzzle. Observing the behavior of Bitcoin whales can provide valuable context for your own investment decisions, offering a unique lens into the convictions of the market’s most influential players. Conclusion: Understanding the Giants of Crypto The recent acquisition of over 16,000 BTC by Bitcoin whales underscores a clear and significant “dip buying” pattern, as expertly identified by CryptoQuant’s Cauê Oliveira. This strategic accumulation by the market’s largest players unequivocally highlights a robust and unwavering confidence in Bitcoin’s long-term trajectory and intrinsic value. While such powerful whale activity doesn’t guarantee immediate price surges, it undeniably offers a compelling glimpse into the underlying strength and future potential perceived by those with the deepest pockets and the most significant stake in the crypto ecosystem. Staying informed about these powerful movements, particularly from Bitcoin whales , is absolutely essential for making informed decisions and confidently navigating the dynamic world of cryptocurrency. Frequently Asked Questions (FAQs) 1. What is a Bitcoin whale? A Bitcoin whale is an individual or entity that holds a very large amount of Bitcoin, typically enough to influence market prices through their buying or selling activities. While there’s no official threshold, holdings often range from hundreds to thousands of BTC. 2. What does “dip buying” mean in crypto? “Dip buying” refers to the strategy of purchasing an asset, like Bitcoin, after its price has experienced a significant decline. Investors who “buy the dip” believe the asset’s value will recover, allowing them to profit from the lower entry point. 3. How do Bitcoin whale movements impact the market? The movements of Bitcoin whales can significantly impact market sentiment and price. Large accumulation phases can signal confidence and potential upward momentum, while large selling can indicate bearish sentiment or profit-taking, potentially leading to price drops. Their actions can create or absorb market volatility. 4. Should I mimic Bitcoin whale investment strategies? While observing Bitcoin whales can provide valuable insights, directly mimicking their strategies is not always advisable for individual investors. Whales have vast capital, different risk tolerances, and access to resources that average investors do not. Always conduct your own thorough research and consider your personal financial situation. 5. Where can I track Bitcoin whale activity? Various on-chain analytics platforms and crypto intelligence firms, like CryptoQuant (as mentioned in the article), Glassnode, and Arkham Intelligence, provide data and analysis on Bitcoin whale movements. These platforms track large transactions and wallet behaviors. If you found this insight into Bitcoin whales and their strategic movements valuable, don’t keep it to yourself! Share this article with your friends, fellow investors, and anyone interested in understanding the powerful forces shaping the crypto market. Your shares help us bring more crucial market analysis to a wider audience! To learn more about the latest Bitcoin market trends, explore our article on key developments shaping Bitcoin price action. This post Bitcoin Whales Unleash Massive 16K BTC Accumulation Amidst Dip first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin onchain data and the length of BTC’s previous market cycles suggest the current bull phase is coming to an end.
Bitcoin has fallen to $113,000 amid global negotiation shifts. Trump stepped back from resolving Russia's invasion of Ukraine. Continue Reading: Bitcoin’s Unexpected Slump Amidst Global Tensions The post Bitcoin’s Unexpected Slump Amidst Global Tensions appeared first on COINTURK NEWS .
Bitcoin price is stabilizing around $11,400, reflecting growing crypto market resilience as traders focus on on-chain indicators and liquidity rather than recent geopolitical events like the U.S.-EU trade deal; this