Bitcoin whales have taken advantage of the recent price slump, accumulating approximately 20,600 BTC worth $1.38 billion within 24 hours. According to blockchain analytics firm CryptoQuant, this marks the largest single-day inflow into whale accounts since February. The significant accumulation coincides with Bitcoin’s supply on exchanges dropping to its lowest level since December 2021, indicating a strengthening market. Analysts suggest this trend reflects a bullish outlook among large holders, as they anticipate potential price increases in the mid to long term. Meanwhile, Ethereum whales have also been active, purchasing substantial amounts of Ether.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
