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Bitcoin Whales Bought $4.3 Billion Worth of BTC During Price Crash — TradingView News
Bitcoin whales took full advantage of the cryptocurrency market crash earlier this month, accumulating 71,000 Bitcoin, marking the fastest Bitcoin accumulation rate since April 2023.
Most of that Bitcoin BTCUSD — worth $4.3 billion at current prices — was raised when Bitcoin rebounded to $54,200 on July 5, a chart from cryptocurrency analytics firm IntoTheBlock shows.
CryptoQuant notes that Bitcoin whales have been accumulating Bitcoin at the fastest pace (on a 30-day moving average) since April 2023, shortly after the collapse of several local banks in the United States. 
“This suggests that #BTC bottoming may be nearly complete,” CryptoQuant analyst Minkyu Woo added in a separate X post.
Meanwhile, smaller traders have been selling off their holdings during the current decline, cryptocurrency analytics firm Santiment noted.
Santiment also observed a net increase of 261 in the number of Bitcoin wallets holding at least 10 Bitcoin in the first 10 days of July.
“[This] should give traders comfort in a long-term bullish future.”
However, it seems that not all Bitcoin whales are intent on hoarding and holding (holding on for dear life).
According to Whale Alert, a dormant Bitcoin whale awoke on July 14 after a 12-year hiatus, transferring 1,000 Bitcoin worth nearly $60 million to two new wallets.