[Bitcoin accumulation reaches 10-year peak]
The Bitcoin (BTC) whale accumulated approximately 84,000 Bitcoins in July 2024, setting a new single-month accumulation high in the past decade. Reports show that the accumulation of Bitcoin since October 2014 has reached new highs, and crypto giants are actively buying Bitcoin as the price drops.
Since the Bitcoin halving, crypto whales have begun accumulating heavily, with accumulations exceeding 84,000 $BTC in July 2024. The latest large-scale trade occurred on the Bitfinex exchange, with a new whale withdrawing 46,000 Bitcoins, showing that crypto institutions are accumulating Bitcoin for the next bull run. Since 2014, such deals have reached a new decade-long peak.
According to data from the analytics firm, many crypto whales buy Bitcoin during price drops. Last month, $BTC prices fluctuated violently, and the Greed and Fear Index has been in the greed zone, which gave crypto whales great confidence to invest and accumulate Bitcoin to maximize profits in the next bull market.
According to data from Tradingview, wallet addresses holding at least 0.1% of Bitcoin’s circulating supply accumulated over 84,000 Bitcoins in July 2024. Such accumulation shows that Bitcoin price will soon rise and reach $70,000. Market sentiment is positive and the whales are gearing up for the next bull run.
