Editor's PiCK
"Bitcoin sees rising whale accumulation amid price drop…largest inflow into long-term holding wallets in the past 6 days"
Minseung Kang
Summary
- It was reported that accumulation by large holders is accelerating during a downturn in Bitcoin (BTC) prices.
- CryptoQuant analyst CW8900 said that during the recent decline, whales made large-scale purchases and then withdrew Bitcoin to accumulation addresses.
- He explained that 66,940 BTC flowed into accumulation addresses over the past 6 days, marking the largest single inflow of this cycle.
An analysis suggests that accumulation by large holders is accelerating as Bitcoin (BTC) prices decline.
On the 8th, CryptoQuant analyst CW8900 said via CryptoQuant Quicktake that "whales bought Bitcoin on a large scale during the recent downturn" and "withdrew the purchased Bitcoin to accumulation addresses."
He added that "the amount of Bitcoin flowing into accumulation addresses over the past 6 days totaled 66,940, the largest single inflow in this cycle."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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