Cryptocurrency analytics firm Santiment has revealed on social media that bitcoin whales, defined as entities holding between 100 and 1,000 BTC in their addresses, have accumulated a total of 86,700 BTC over the last two weeks.
According to the firm these whales accumulate BTC worth over $4.8 billion at press time in such a short amount of time and now hold 21.3% of the flagship cryptocurrency’s total supply. The accumulation implies they bought the dip expecting a move higher.