Data: Bitcoin whales accumulated 84,897 BTC in 5 weeks, worth $2.3 billion

Binance News · 2023-05-17T12:15:19.000Z

Santiment data shows that key whale addresses holding 1,000-10,000 Bitcoin have been accumulating BTC at a steady rate over the past five weeks as the price of Bitcoin has stalled. During this period, this group of market participants accumulated a total of 84,897 Bitcoins, worth approximately $2.3 billion at today’s prices. A move like this suggests investors view the recent pause in price action as a buying opportunity. When these whale addresses entered accumulation mode, the price of Bitcoin increased by nearly 35% in January. (CryptoPotato)

Santiment data shows that over the past five weeks, as the Bitcoin price stagnated, key whale addresses holding 1,000-10,000 Bitcoins have been accumulating BTC at a steady rate.
During this period, this group of market participants accumulated a total of 84,897 Bitcoins, worth about $2.3 billion at today's prices. Such moves suggest that investors see the recent stagnation in price action as an opportunity to buy. When these whale addresses entered accumulation mode, the price of Bitcoin rose by nearly 35% in January. (CryptoPotato)