Crypto analytics firm Santiment is unveiling that big Bitcoin whales are scooping up BTC as the leading crypto asset consolidates below $60,000.
In a new tweet, Santiment reveals that whale accounts holding between 100-1,000 Bitcoin rapidly accumulated the flagship cryptocurrency between February 1st and March 21st.
Santiment adds that super-large whale accounts holding between 10,000 and 100,000 Bitcoin also grew their BTC stack during the most recent dip.
The biggest whale accounts in the world, those owning between 100,000 and 1,000,000 BTC, bought massive amounts of Bitcoin in February before keeping their holdings steady in the first half of March.
As for whales with holdings in the 1,000-10,000 BTC range, Santiment says the group shed almost as much Bitcoin as the smaller whales have accumulated over the same timeframe.
“As you’d expect, not all of Bitcoin’s whales are behaving in unison. However, we’ve seen interesting trends these past couple months, such as 100-1,000 BTC addresses adding 353,000 more BTC since Feb. 1st, while 1,000-10,000 addresses have shed 300,000 BTC.”
Bitcoin hit its all-time high of $61,711.87 on March 13th. Over a week later, however, it has lost nearly 11% in value, trading at $53,383.21 at time of writing, according to CoinGecko.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Zastolskiy Victor