Data Highlights Massive BTC Accumulation By Whales As ‘Extreme Fear’ Grips Bitcoin Price

04/23 01:24

According to the latest data from on-chain analytics firm Santiment, whale addresses with 100-1k BTC have added 20,007 BTC to their holdings in the past two days after a month-long selling period. This suggests that these whales are confident about Bitcoin’s long-term prospects and see the current dip as a buying opportunity. Not all whale addresses are created equal, and some may have different transaction strategies or motives. For instance, there are also whale addresses with more than 1k BTC, which have been selling more than buying lately, possibly to take profits or rebalance their portfolios. Moreover, some of the whales may be institutional investors or high-net-worth individuals with access to over-the-counter markets or derivatives not reflected in the on-chain data. Nonetheless, the trend of whale accumulation in the lower range of BTC holdings could indicate that some retail investors or small-scale traders are also following their lead and buying the dip.
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DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

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