Main navigation

Bitcoin Eyes Bullish Scenario as Thousands of BTC Acquired by Whales

Sun, 06/11/2023 - 12:08
article image
Gamza Khanzadaev
Bitcoin's whales defy price drop, accumulating a thousand BTC daily — bullish rebound imminent?
Bitcoin Eyes Bullish Scenario as Thousands of BTC Acquired by Whales
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In a recent report from crypto intelligence portal Santiment, it has been revealed that Bitcoin's prominent investors, commonly referred to as whales, have amassed an impressive number of Bitcoins despite the recent 10% drop in price. These whales, who hold anywhere between 100 to 10,000 BTC, collectively accumulated an additional 57,578 BTC. This accumulation has created a noteworthy bullish divergence that hints at a potential strong rebound in the near future.

$600K Bitcoin Price Prediction: Cathie Wood Lays Out Ark's Base Case

As Bitcoin experienced a significant 10% price decline since April 9, it is remarkable to note that these influential holders have been adding approximately 1,000 BTC to their already substantial wallets each day. This unexpected trend has emerged amid the ongoing frenzy surrounding altcoins, drawing attention to the contrasting actions of Bitcoin's accumulating whales and the falling price of the cryptocurrency itself.


Presently, Bitcoin is being traded at $25,765, marking its most substantial weekly decline in the past 30 days, with a decrease of 4.98%. Given the current situation, making accurate predictions regarding Bitcoin's future price movements has become increasingly challenging. However, the observations provided by Santiment shed light on the behind-the-scenes dynamics and offer valuable insights into the present scenario.

BTC to USD by CoinMarketCap

Bitcoin Is Facing Its First US Recession, Bloomberg's Market Expert Reveals

With this notable surge in whale holdings by approximately 1,000 BTC daily, despite the declining prices, there are strong indications that a bullish scenario may be on the horizon. These intriguing findings provide optimism to the market and suggest that a potential robust recovery may be in the cards for BTC.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.