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Bitcoin Whales Accumulates More Than $2.36 Billion In $BTC After Price Decline

Bitcoin whales are currently holding between 100 and 10,000 $BTC. Also, reports reveal it accumulates a whopping $2.36 billion worth of $BTC after prices decline.

As per information from cryptocurrency analytics firm Santiment, bitcoin whales accumulates about 40,000 BTC. Particularly, when bitcoin’s price drops to a $56,000 low last week.

Then, with bitcoin now trading at around $59,000 per coin, whales have over $2.3 billion of the cryptocurrency.

“📰 #Bitcoin’s key active whale addresses that hold between 100 to 10k $BTC…”
“are content after accumulating a total of ~40k more $BTC on last week’s dip…”
“This, the growing #bearish sentiment (& why it’s a good thing),…”
“and more in our latest weekly report.” — Santiment (@santimentfeed) November 23, 2021

Additionally, Bitcoin whales are taking the advantage of a price drop by bearish sentiment, and keep accumulating more BTC.

More so, The cryptocurrency analytics firm reveals in a recent report that Bitcoin supply keeps moving off of exchanges. Of course, this is a positive sign for the market.

Consequently, Investors are moving their BTC off of trading platforms. Of course, this indicates they want to custody their own funds, not selling short term too. Furthermore, This also brings down the selling pressure on the market and lowers the risk of many sell-offs.

Lastly, Santiment indicates that social sentiment for the top cryptocurrency is at its most bearish level in seven weeks.

Also, The social sentiment tracker analyzes commentary on specific cryptocurrencies to checkmate if investors are bearish or bullish.

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