Whales Keep Buying Big as Bitcoin Faces Price Slumps
Renowned cryptocurrency data analytical platform IntoTheBlock has revealed that Whales keep buying big despite Bitcoin's (BTC) price slumps. IntoTheBlock disclosed the latest BTC statistics on its verified X handle, boasting about 59.4k followers. According to the data analytical outlet, Bitcoin addresses boasting between 100 and 1,000 BTC has surged by about 5% in just six months. Consequently, these whale investors now control approximately 20.3% of Bitcoin’s 19.75 million circulating supply. Mathematically, the spotlighted percentage represents 4.01 million BTC, underscoring massive token accumulations by whales. Aside from depicting large investors' resilience, the trend signifies a potentially positive BTC outlook. For context, when whales accumulate, they do so during price slumps. In addition, they tend to only accumulate tokens with proven price appreciation prospects. Hence, it becomes relatively safe to assert that Bitcoin’s recent dip might be transient. Addresses ho...