![Defying the sell-off: Bitcoin whales accumulate amid massive market volatility](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/03/bitcoin-Insights-2.jpg&w=70&h=37&q=75)
Quick Take
- Bitcoin is currently down 5% in the past five days, which has sparked massive volatility and a sell-off from short-term holders.
- However, Bitcoin whales continue accumulating Bitcoin even as the prices continue to decrease.
- The blue denotes accumulation, which can be seen with whales that hold 10,000 Bitcoin or more. At the same time, all other cohorts are selling or in a distribution phase.
- Furthermore, supply per whale has increased to 535 Bitcoin โ demonstrating the increase in whale accumulationโthe highest supply per whale since the FTX crash in Q4 2022.
![Accumulation Trend Score: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/04/SPW1.png)
![Supply Per Whale: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/04/SPW.png)