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Whales have bought 130 000 BTC in recent weeks

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According to the analytical company Santiment, whales have accumulated 130 000 BTC in the last five weeks worth over $ 5 billion.

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This is an on-chain analysis of those addresses that hold between 100 and 10,000 BTC.

Whales have bought 130 000 BTC in recent weeks

There are only 85 BTC addresses in the world, which contain more than 10,000 BTC, and it is likely that almost all belong to crypto exchanges or financial companies. In other words, these are addresses where BTCs are stored, which do not belong to the people who control these addresses, but to their customers.

Instead, there are almost 16,000 addresses that hold between 100 and 10,000 BTC, probably mostly belonging to real individual “whales”, ie. real large BTC holders.

Following the May decline, Santiment points out that these addresses have accumulated a total of 130,000 BTCs in the last 5 weeks, compared to 40,000 in the last 10 days. This figure refers to an increase in the sum of all BTCs held in total at all these addresses.

After the initial accumulation phase, which began at the end of May and ended in mid-June, there was a short sale phase, which lasted until the end of June. At the beginning of July, however, there was a small increase in accumulation, which continued at a slower pace in the following days, as the price of BTC fell to $ 30,000.

Interestingly, the total number of BTCs held at addresses with smaller amounts has decreased at this stage, as if BTCs have been transferred from less rich to richer addresses in recent weeks.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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