Bitcoin Whales Accumulate 71,000 BTC Amid Price Crash Details

Following the recent price drop in the first week of July, the price of Bitcoin has continued to recover slightly over the past 24 hours. According to data from CoinMarketCap, BTC has gained 1.11% over the past day, and market bulls appear to be gaining momentum for a full price recovery. Interestingly, on-chain analytics platform IntoTheBlock has provided some insights into the resilient behavior of these Bitcoin optimists amid the current market downtrend. As expected, the huge selling pressure caused a significant drop in their wallets as the price of Bitcoin fell below the $210,96,000 mark. They took advantage of the recent price drop pic.twitter.com/fBeEGUP6P8 IntoTheBlock (@intotheblock) July 13, 2024 However, Bitcoin whales have expressed full confidence in the long-term profitability of the coin and acquired 2,563,000 BTC at the current low price. , providing enough buying pressure to fuel the German government’s selling spree, which could spur other retail investors and sharks to increase their bitcoin holdings, ultimately aiding a price recovery for the cryptocurrency market leader.