[Analysis] "Bitcoin Whales Accumulate During Downtrend... Increase in Large Holders in February"
Suehyeon Lee
Summary
- Bitcoin whales are reportedly taking advantage of the downtrend to accumulate more Bitcoin.
- In February, the number of addresses holding 100 BTC or more increased by 135, indicating active purchasing by whales in the market.
- The accumulation by Bitcoin whales is forming positive conditions for a rise in market capitalization.
It appears that Bitcoin (BTC) whales are taking advantage of the downtrend to accumulate more Bitcoin.
On the 6th (local time), Santiment reported via X (formerly Twitter) that "Bitcoin whale addresses are accumulating more during the volatile downtrend. Meanwhile, small traders entering the market for the first time in six months are being liquidated due to volatility."
According to Santiment, in February, the number of addresses holding 100 BTC or more increased by 135, while those holding less than 100 BTC decreased by 138,680. Santiment added, "When whales absorb the supply, it creates ideal conditions for market capitalization to rise, even if it takes weeks or months for the price to increase."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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