New data from digital assets analytics firm Santiment reveals that Bitcoin (BTC) whales have accumulated nearly $2 billion worth of the crypto king during its most recent price dip.
Santiment says that whales, or investors holding between 100 and 10,000 Bitcoin, have collectively added just over 64,000 BTC worth $1,875,819,869 to their stashes since April 11th.
“Bitcoin whales have quietly accumulated again since profit taking above $30,000 on April 11th. Since this date, as prices wavered and dipped down slightly, addresses holding 100 to 10,000 BTC have collectively added 64,094 coins back to their bags.”
Fellow market analytics firm IntoTheBlock reveals that market participants have sent over $1 billion in BTC to centralized crypto exchange in the past week, where they could potentially be sold on the open market.
According to IntoTheBlock, crypto exchanges witnessed a significant uptick in BTC deposits after false rumors emerged that addresses related to the defunct exchange Mt.Gox had started moving funds.
Earlier this month, two long-dormant BTC whales awoke from years of slumber to shift millions of dollars worth of the top crypto asset by market cap. One Satoshi-era whale that has stayed dormant since 2011 abruptly arose and moved $10 million in BTC.
Another previously dormant whale, which had previously transacted in December of 2013, suddenly came to life and transferred over $60 million worth of Bitcoin.
At time of writing, Bitcoin is trading for $29,266.
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Featured Image: Shutterstock/Stavtceva Iana
Source: https://dailyhodl.com/2023/04/30/bitcoin-whales-quietly-accumulate-1875819869-in-crypto-in-just-18-days-santiment/