Whales’ buying appetite returns
Since the beginning of the year, the amount of money whales have invested in Bitcoin has more than doubled from $57 billion to $122 billion. This figure is measured by looking at the “realized market value” of whale owners — the total value of all whale holdings based on when each coin was purchased, rather than its current market value.
In March, whales increased their BTC holdings by more than 9.8%. Whales continued to accumulate in April, but the pace of accumulation slowed to 4.2% by May 1, when the price of Bitcoin had fallen more than 20% from its highs to below $57,000.
As of May 22, the metric has risen back to 5.5%, meaning that whale holdings have started to rise again after the market bottomed.
Whales absorbed 47,000 BTC during the market’s sharp drop.
