On-chain analyst The Data Nerd recently reported that as Bitcoin's price declined, several large investors, or "whales," took the opportunity to accumulate more BTC. According to The Data Nerd's analysis, probable Cumberland addresses, Galaxy Digital addresses, and an anonymous whale address withdrew significant amounts of BTC from exchanges. These withdrawals indicate that these whales are likely accumulating BTC in anticipation of future price appreciation. This accumulation behavior by whales is a bullish sign for Bitcoin's long-term prospects, as it suggests that institutional investors are confident in its future value.

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