Over the past month, Bitcoin’s price has oscillated between the $31k to $45k range, inclining more towards the lower end of the range.
These whales now hold a 7-week high of 9.11 million BTC in aggregate, and that’s currently worth $366.89 billion.
The number of addresses holding less than one BTC has also doubled over the past two-and-a-half years and now comprises almost 5% of the supply.
The accumulation has only accelerated with time and the same can be split into four phases, as indicated in the chart below.
Even though the whales and other market participants have been on a buying spree, the price of Bitcoin did not substantially pump up.
Are the whales sending out a signal – a price rise signal? Are these large players still clinging on to their holdings with the desperate anticipation of an uptrend? Well, maybe yes maybe no.
As far as holdings are concerned, BTC is currently quite “cheap” according to Pantera Capita’s Dan Morehead, and this is the best time for investors to “buy” and settle in.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.