"Bitcoin whales accumulate 120,000 BTC in the past 6 weeks... Individual buying remains limited"
Summary
- Bitcoin (BTC) whale investors reportedly accumulated an additional 122,330 BTC over the past 6 weeks.
- During the same period, the number of mid-tier whale wallets increased by 2.1%, while individual investors remained cautious in their trading.
- If individual fund inflows remain lacking, the sustainability of a rebound may be limited, and in the late phase of the market cycle, there is also a possibility of transitioning to a distribution phase after whale accumulation.
It has been revealed that Bitcoin (BTC) whale investors have made net purchases of more than 120,000 Bitcoins over the past six weeks.
On the 29th, cryptocurrency-focused media platform AMB Crypto, citing on-chain analytics firm Santiment, reported that "mid-tier whale wallets holding 100~1000 BTC have additionally accumulated a total of 122,330 BTC over the past six weeks." According to Santiment, the number of these wallets increased by 2.1% (337) over the same period.
Meanwhile, some market participants interpret that individual investors are still maintaining a cautious trading stance, and in the short term, bearish sentiment is dominant.
The outlet analyzed, "If individual fund inflows do not pick up, the sustainability of a rebound may be limited," adding, "In particular, if it is the late phase of a market cycle, after whale accumulation, there is also the possibility of transitioning to a distribution phase (distribution)."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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