Anonymous Bitcoin transactions via CoinJoin have tripled since 2022. According to CryptoQuant, these whale addresses are related to the spot Bitcoin ETF fund, MicroStrategy, and large custody wallets.

CryptoQuant CEO, Ki Young Ju, stated that only 0.5% of the total $377 billion Bitcoin capital flow reported is related to hacks in 2024. He also revealed that there are unidentified Bitcoin whales that have accumulated up to 420,000 BTC (worth over $40 billion), raising suspicions about a large country or organization quietly accumulating.