Bitcoin whales snapped up $4.3B of BTC amid price slump
Bitcoin whales haven’t accumulated this much Bitcoin over a 30-day period since April 2023, shortly after several local banks in the United States collapsed.
Bitcoin whales took full advantage of the crypto market slump earlier this month, accumulating 71,000 Bitcoin amid the fastest rate of Bitcoin stacking since April 2023.
Much of that Bitcoin (BTC) — worth $4.3 billion at current prices — was scooped up when Bitcoin retraced to $54,200 on July 5, a chart from cryptocurrency analytics firm IntoTheBlock shows.
CryptoQuant notes that Bitcoin whales have now been stacking Bitcoin at the fastest rate (on a 30-day moving average) since April 2023, shortly after several local banks in the US collapsed.
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Author: Brayden Lindrea
