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Defying the sell-off: Bitcoin whales accumulate amid massive market volatility Defying the sell-off: Bitcoin whales accumulate amid massive market volatility

Defying the sell-off: Bitcoin whales accumulate amid massive market volatility

Whale Watch: Bitcoin's 5% dip spurs accumulation among major holders as BTC whales take advantage of cheaper prices.

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 — demonstrating the increase in whale accumulation—the highest supply per whale since the FTX crash in Q4 2022.
Accumulation Trend Score: (Source: Glassnode)
Accumulation Trend Score: (Source: Glassnode)
Supply Per Whale: (Source: Glassnode)
Supply Per Whale: (Source: Glassnode)