Bitcoin accumulation by crypto whales signals future bullish trend
Amid the bearish trend sweeping the cryptocurrency market, leading market intelligence platform Santiment has highlighted a potential bullish signal.
Santiment specialists see an optimistic signal in the activity of large investors in Bitcoin (BTC), Tether (USDT) and USD Coin (USDC). The accumulation of these cryptocurrencies by crypto whales may become a decisive indicator for a possible recovery.
Analysis of market sentiment showed that strategic accumulation by large holders could pave the way for a bullish reversal and a retracement of last week's two-year high.
In addition, Santiment's analysis showed that wallets with 10-10 thousand Bitcoins (BTC) currently make up 66.27% of the total number of addresses. This is the lowest percentage since September 26, 2018.
The organization's report highlights that the current supply represents the smallest amount of BTC since June 20, 2023, at 12.99 million coins. Note that the market value of these tokens exceeds $530 billion.
