Whales have accumulated over 22,000 BTCs in the past week.
BTC was trading at around 42,400, with a slight recovery.
Bitcoin [BTC] whales have responded with a mixed sentiment to the recent price fluctuations. Despite a general increase in whale addresses, the latest exchange flow presents a contrasting narrative.
Bitcoin whales continue accumulating
According to a recent IntoTheBlock post, Bitcoin whales accumulated over 22,000 BTC in the past week. The increased accumulation was despite the recent decline in BTC’s price.
However, a closer analysis of the whale accumulation showed a more nuanced picture. An analysis of the BTC supply distribution on Santiment showed fluctuations in addresses holding 1–10,000 BTC.
The change suggested sell-offs from these addresses at certain points during the week.
Source: Santiment
On 14th December, the chart showed around 1,932 addresses, but at the time of this writing, that number had decreased to about 1,928.
Despite this slight decl
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