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.
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.
Backstage
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.
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.