Bitcoin Whales Accumulate 30,000 BTC in Just Two Days

In the past two days, major holders of the leading cryptocurrency have acquired 30,000 BTC, as reported by on-chain analyst Ali Martinez.

According to Santiment, in the last four months, whales with balances ranging from 10 to 10,000 BTC have accumulated 0.9% of the total supply of the coin.

At the time of writing, the first cryptocurrency is trading at $114,708 (-3.3% over the last 24 hours), according to CoinGecko.

This accumulation of Bitcoin is being balanced by profit-taking from other large holders. Last week, one whale sold coins worth $9 billion with assistance from Galaxy Digital.

Glassnode analysts noted that despite the significant sell-off, most investors remain in profit. Currently, 97% of the circulating coins are «in the green,» with unrealized profits in the market exceeding $1.4 trillion.

Bitget’s chief operating officer, Vugar Usizade, commented to Decrypt that whales are also expressing interest in other assets. They are increasing their positions in Ethereum, Solana, and certain meme coins like PEPE and WIF. According to him, this indicates a diversification into high-yield tokens, although the primary focus remains on layer 1 platforms.

CryptoQuant analyst known as crypto sunmoon pointed out that Bitcoin reserves held by whales continue to show an upward trend. Historically, the peak of the 2021 cycle coincided with a significant reduction in their holdings. The expert believes that if the current accumulation trend shifts, it could indicate an approaching potential peak.

In July, the cryptocurrency market capitalization exceeded $4 trillion, but has since corrected. Currently, the market cap stands at $3.81 trillion.

It’s worth noting that «awakened» wallets moved 250 BTC after 15 years of inactivity.