Odaily Planet Daily News According to data disclosed by Cryptoquant analysts, whales currently hold approximately 670,000 bitcoins, the highest level ever recorded. The analysis suggests that bitcoin often remains in a sideways trend or experiences moderate price declines during this accumulation phase, which can be described as the calm before the storm in the medium to long term. The real surge in bitcoin growth only begins after whales gradually reduce their holdings until reaching a negative percentage change.