According to the latest reports, it seems that Bitcoin whales are accumulating the king coin these days amidst the latest interesting moves in the crypto space. Check out the new reports below.
Bitcoin whales accumulate $26 million per day
An important analytics firm says that Bitcoin (BTC) whales are in heavy accumulation mode despite the crypto king’s weak price action over the last few months.
Santiment stated the fact that Bitcoin whales have been adding nearly $26 million in BTC per day since April 9th when the crypto king traded close to $28,000.
The online publication the Daily Hodl notes the fact that the firm stated that the whale accumulation suggests that a Bitcoin bounce is on the horizon.
“As altcoin madness has ensued, there quietly is a bullish divergence between Bitcoin’s accumulating whales and falling price. With whale holdings moving up by ~1,000 BTC per day while prices fall, there is reason to believe a strong rebound can occur.”
It’s been also revealed the fact that the important firm called Glassnode is keeping a close eye on the activities of long-term Bitcoin holders.
They note that long-term BTC holders remain unfazed amid the current market downturn.
“The percentage of Bitcoin long-term holder supply sent to exchanges remains extremely quiet at 0.004%.”
It’s been also reported, according to the very same notes, that “This highlights the profound inactivity of the cohort amidst elevated market distress, remaining indifferent to the Binance and Coinbase regulatory charges.”
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green and the king coin is priced at $25,946.
Another interesting report stated that the digital assets manager CoinShares says institutional investors are likely being scared away by US monetary policy. This has been happening as the crypto markets suffer outflows for the eighth week in a row.
