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As Bitcoin’s price continues to hover below $90,000, large-scale investors, commonly referred to as whales, are seizing the opportunity to accumulate more of the leading cryptocurrency.
Bitcoin Whales Add $1.28 Billion Worth of BTC by Buying on the Dip
According to on-chain data, wallets holding at least 0.1% of Bitcoin’s circulating supply collectively added around 15,000 BTC, worth around $1.28 billion at current prices.
Whale Accumulation Amid Market Volatility
This increase in whale accumulation suggests that large holders are confident in Bitcoin’s long-term potential despite recent market volatility.
Historically, large inflows into whale wallets have been viewed as a bullish indicator, signaling potential price stability or a future recovery.
While Bitcoin has recently experienced a sharp correction, falling to a three-month low, institutional and high-net-worth investors appear to be taking advantage of the low prices to increase their holdings.
With increasing adoption and ongoing whale interest, all eyes are on whether this latest buying frenzy could signal an impending price recovery for Bitcoin.
*This is not investment advice.
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