Bitcoin Whales Were Unaffected by the Market Crash, Even Acquiring $3.5 Billion Worth of BTC

The cryptocurrency market is struggling to recover from the downturn of recent weeks. However, in the meantime, the largest Bitcoin (BTC) investors are taking the opportunity to increase their holdings while prices remain relatively low.

Bitcoin Whales Were Unaffected by the Market Crash, Even Acquiring $3.5 Billion Worth of BTC

According to information shared by blockchain and cryptocurrency analytics platform Santiment on June 20, this has been seen in the activities of Bitcoin whales, or cryptocurrency wallets holding between 1,000 and 10,000 BTC, who have amassed a total of about 131,600 BTC (currently valued at over $3.5 billion) in the last 11 weeks.

Why is this Significant?

The fact that these Bitcoin whales have increased their aggregate accumulation supply levels to seven-week highs, rising from roughly 4.51 million BTC in early April to nearly 4.65 million BTC at the time of writing, highlights the significance of this trend. It’s interesting to note that over this time, as the graphic indicates, the price of Bitcoin just marginally decreased and stayed stable.

Ali Martinez’s Data

According to information provided by cryptocurrency trading specialist Ali Martinez in a tweet posted on June 20, a significant portion of the mentioned above accumulation took occurred in the past week alone among Bitcoin investors with 1,000 to 10,000 BTC, who added more than 60,000 BTC to their holdings, totaling almost $1.62 billion.