Bitcoin whales are on a buying spree, accumulating $23 billion worth of BTC in just 30 days.
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Bitcoin has experienced a notable shift in market dynamics over the past month, with whales—large-scale holders of the cryptocurrency—accumulating significant amounts of BTC.
According to on-chain data, nearly 404,448 BTC, worth approximately $23 billion, have moved into “permanent holder addresses,” signaling a clear accumulation phase. This trend has been observed amid global market uncertainties and fears of further declines.
Ki Young Ju, the founder and CEO of CryptoQuant, highlighted this phenomenon in a series of posts on X. He expressed confidence in potential behind-the-scenes development, noting that the substantial inflow of Bitcoin into these permanent addresses suggests a strategic accumulation by institutional entities, companies, or even governments.
