Bitcoin Mega Whales Buy the Dips, Holdings At Six-Year High
🚀 Despite recent selling pressure, Bitcoin's largest holders, known as whales, are on an accumulation spree! Over the past six weeks, wallets holding over 10,000 BTC have seen a significant increase in holdings, reaching six-year highs. According to Santiment, these mega whales, often exchange liquidity providers, have added 212,450 BTC to their portfolios amidst market volatility. Additionally, smaller whale cohorts holding 10+ BTC are also absorbing supply, pushing total holdings to record levels.
📈 This accumulation underscores growing confidence in Bitcoin's future among larger investors. Despite recent price fluctuations, institutional inflows into Bitcoin ETFs surged, indicating strong market interest amid the downturn. The BTC price has rebounded, currently trading at $56,500, with $61,000 identified as a critical level for the bulls to regain control.
💡 The recent activity highlights strategic accumulation by major players in anticipation of future market movements. Will Bitcoin bulls reclaim higher ground? Stay tuned as market dynamics continue to unfold!
