Whales and sharks have been accumulating Bitcoin since August 17, according to Santiment data. The collective purchase of 11,629 BTC is worth almost $308 million at current rates. This activity has been observed not only during bearish periods but also during price rallies. The recent market-wide retracement was likely caused by speculations that SpaceX might have sold its remaining BTC stash. The primary cryptocurrency dropped to a two-month low of $25,300, while some altcoins experienced weekly losses of over 20%. The increased appetite for Bitcoin is likely due to BlackRock’s filing to introduce a spot BTC ETF in the US. Between June 17 and July 10, whales and sharks have bought over $2 billion worth of Bitcoin.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
9 |
| People |
BlackRock, Santiment, CryptoPotato |
| Companies |
BlackRock, Santiment, SpaceX, Binance, PrimeXBT |
| Currencies |
Bitcoin, Ethereum, XRP, USD, BTC |
| Securities |
None |
