Bitcoin whales make a comeback: is the new BTC floor in?

Quick Take

• At the end of March, CryptoSlate analyzed that whales were offloading Bitcoin while all other cohorts were accumulating.
• On top of the accumulation from other cohorts, Shrimps have aggressively bought Bitcoin, a research piece covered by CryptoSlate.
• However, for the first time since the end of 2022 beginning of 2023, whales have started to accumulate — albeit cautiously.
• As we can see, whales buy value, aggressive buying in June 2022 and November 2022, both times capitulation occurred.
• Since the SVB collapse back in mid-march, the aggregate trend has been the network has been in a state of accumulation.
• Does this assume the bottom or value could be in the $30,000 range?

Analyst View profile →

James Van Straten

Former Lead Analyst • CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

@jvs_btc LinkedIn

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