Despite this week’s Bitcoin price drop, whales continued to add to their balance and the current v-shaped BTC recovery could be a sign that new highs are coming.
Bitcoin’s (BTC) price has swiftly recovered above $67,000, moving by 3% after dropping to a low of $65,200. Despite the recent drawdown, the metric tracking long-term Bitcoin accumulation sentiment did not change as BTC whales’ holding reached new highs.
BaroVirtual, a verified Bitcoin researcher on CryptoQuant, highlighted that the current whale holding reached a new all-time high (ATH) at around 670,000 BTC. The chart exhibits a growing trend in 2024, with whales initially eclipsing their previous ATH holding level from 2020 in July.
Bitcoin whales holdings chart. Source: CryptoQuant
