Bitcoin Whales Accumulated 97,456 BTC in the Last 30 Days
The long bearish trend has continued into 2019 in the crypto market, but interestingly, the large holders, so-called the ‘whales’ seems awake in the early spring and trying to take full advantage of extremely low price.
Bitcoin (BTC) whales have accumulated their holdings in every large drop in the recent two months. There are massive changes take place in account balances of the top 100 Bitcoin whales. These whales are the major Bitcoin users in the crypto world and contribute a lot to the Bitcoin usage.
According to data from BitInfoCharts, there were 7 whales sold 26,519.05 BTC while 13 whales’ account balance increased in 97,456.46 BTC in the last 30 days. Obviously, Bitcoin attracted more buyers than sellers in the previous month.
For instance, there are only two wallets decreased in the amount of Bitcoin they own, one belongs to the Bitfinex cold wallet which moved 19,123 BTC out, and the other one belongs to the Coincheck cold wallet with an outflow of 559.89 BTC and an inflow of 78.05 BTC. The top 47th wallet has increased most of the Bitcoins out of the whole list which filled 20,000 BTC in his pocket.
As Bitcoin whales’ movement has always been associated with the big changes in market trend, crypto enthusiasts always concerned about large amount changes in these account balance. The digital asset research group Flipside Crypto has provided analysis on Bitcoin wallets in last month.
Flipside Crypto claimed that the many inactive Bitcoin wallets have reawakened since last October and this trend has become even more pronounced in 2019.
Eric Stone, one of Flipside Crypto stated that the historical examples of similar wallet activity had corresponded with large shifts in the price of Bitcoin which remind us the price swing in the previous week.
However, Stone also indicated that Bitcoin whales are losing their power on the market after Q4 2018. He also suggested that the recent activity could loosen the whales’ hold on the crypto market.