Bitcoin whales keep hoarding coins

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According to Santiment experts, bitcoin whales continue to accumulate BTC.

 

Our highly publicized bitcoin whale holder index speaks of continued accumulation in July. Bitcoin addresses holding between 100 and 10,000 BTC again own 9.13 million coins. This is the highest figure since April 14 and 48.7% of the total issue.

 

Typically, the addresses with the most BTC come from exchanges that hold funds other than their own. BTC wallets up to $ 350 million can be owned by individual owners.

Santiment analysts drew attention to an interesting dynamic. Since the beginning of April, the total amount of bitcoins stored on addresses with a balance of 100 to 10,000 BTC began to decline significantly.

The decline was almost continuous until it hit a low in the second half of May, which coincided with a sudden crash on May 19, which sent the bitcoin price down to $ 30,000.

Since then, Bitcoin has been moving on an upward trajectory and by mid-June returned to levels before the crash of mid-May. In the second half of June, it fell sharply, reaching a new low at the end of the month.

From the beginning of July, there was a spike that brought it back to mid-April levels in a few days. This dynamic suggests that the accumulation phase is still ongoing.

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