Here's How Bitcoin Whales Quietly Accumulated $1,875,819,869 In The Crypto In Just 18 Days

The latest data from Santiment shows that, when the Bitcoin BTC/USD prices went down, BTC whales accumulated nearly $2 billion worth of the cryptocurrency. 

The Bitcoin whales, who hold between 1,000 and 100,000 BTC each, have collectively accumulated 64,000 BTC worth $1,875,819,869 since April 11.

#Bitcoin whales have quietly accumulated again since profit taking above $30k on April 11th. Since this date, as prices wavered and dipped down slightly, addresses holding 100 to 10,000 $BTC have collectively added 64,094 coins back to their bags. https://t.co/Lx3msF58Wo pic.twitter.com/zUQC4BaW6F

— Santiment (@santimentfeed) April 29, 2023

Crypto market analytics firm IntoTheBlock reported that crypto exchanges saw a significant uptick in Bitcoin deposits after there were fake rumors of addresses related to the defunct exchange Mt.Gox moving funds.

Bitcoin recorded over $1B in inflows to centralized exchanges this week, many of these coming shortly after fake rumors of Mt. Gox linked addresses moving fundshttps://t.co/EoYWCNEN2n

— IntoTheBlock (@intotheblock) April 28, 2023

Last week, big Bitcoin holders reportedly made a flurry of transfers from their dormant wallets, some of which had been inactive for over a decade. 

One such address transferred 6,071 Bitcoin after just over a nine-year period of inactivity, while two other whale addresses separately transferred more than 1,000 Bitcoin each. The total transfer summed up to $225 million.

Some $BTC whales that have been dormant for many years have woken up recently.

3 whales with 8,199 $BTC ($225M) have woken up in just 5 days.

And the giant whale with 79,957 $BTC ($2.19B) has been dormant for 12 years, the price when he received $BTC was only $0.93. pic.twitter.com/2MZPDc8UuW

— Lookonchain (@lookonchain) April 25, 2023

At the time of writing, Bitcoin was trading at $29,615, nine percent up in the last seven days. 

Now Read: Here's Why This Analyst Says A $10T Market Cap For Bitcoin Can Happen

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