Bitcoin, along with other cryptocurrencies and the newly launched token associated with Donald Trump, declined on Tuesday as the president’s initial policies post-inauguration failed to address the crypto market. Bitcoin had reached a record high of over $109,000 on Monday ahead of Trump’s swearing-in as the 47th US president but began to retreat shortly afterward.
However, new data revealed renewed Bitcoin whale activity.
Bitcoin Drops, Whales Accumulate
According to the latest analysis shared by Santiment, wallets holding 10+ BTC have been accumulating 1,002 Bitcoin daily over the past five days. This reflects a positive accumulation trend, contributing to a 2.8% price increase in the same period. Over the last six months, the on-chain analytic platform has identified five distinct accumulation cycles, each with varying impacts on Bitcoin’s price trajectory.
From July 20 to October 11, whales accumulated 164 BTC daily, coinciding with a 7.3% price decline. This trend shifted dr
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