Bitcoin whales took action before the last price correction was over. According to data, major investors added 15 thousand 121 BTC to their wallets in the last 24 hours. This amount represents a value of around 1 billion dollars at today's prices. Metrics revealed that this accumulation was the largest movement in the last two weeks.
Bitcoin whales are on the move
Bitcoin price has been much more active in recent weeks compared to the past. While the leading cryptocurrency has been fluctuating between 60 thousand and 64 thousand dollars for a while, whales took advantage of the horizontal trend and increased their savings.
According to the comment of Santiment, a leading on-chain analysis platform, this movement of whales shows that their trust in Bitcoin continues. Experts commented that the accumulation phase has begun and the uptrend potential will strengthen again in the medium term.
When will the bulls take control?
While entries into the Bitcoin network are steadily increasing, it is noteworthy that whales are taking action at the same time. About a week ago, whales purchased 47,000 BTC in a single day, making a transaction worth almost $3 billion. The continued flow of capital into the market led CryptoQuant CEO Ki Young Ju to suggest that this could usher in a new era.
Famous analyst Willy Woo further strengthened his bullish prediction and stated that he recently observed that the interest of BTC investors has increased again. While Woo acknowledged that some more time is needed for the reversal to be confirmed, he emphasized that fundamental data shows growing interest in Bitcoin among institutional investors.