Whales bought 12 000 bitcoins to fall below $9500

The collapse of the bitcoin on 20 may resulted in the growth of demand for cash among whales. This reports the analytical portal Santiment.

1/ Are $BTC whales back to accumulating? 🤔

Since Bitcoin’s drop below $9,500 on May 20th, addresses holding 100 or more #Bitcoin have added another 12,000 $BTC to their bags — more than $108,000,000 at current prices.

Since the start of the year, these addresses have shown a pic.twitter.com/jWOLuKbnwA

— Santiment (@santimentfeed) May 26, 2020

Wallets with a balance above 100 BTC in total, supplemented by 12 000 bitcoins ($108 million) over the past few days. Analysts believe that the whales thus accumulate cryptocurrency in the fall.

In Santiment added that these wallets since the beginning of this year show a steady pattern of behavior. First, they accumulate crypto-currency at lower levels, and then sell some bitcoins shortly before reaching the short-term price peak.

2/ propensity to accumulate into dips and offload their bags slightly before short-term tops occur. Will this history repeat itself?

Check out more $BTC whale metrics on the most comprehensive on-chain and social metrics #crypto platform for FREE! https://t.co/b87hnzT6aV

— Santiment (@santimentfeed) May 26, 2020

Last week, the whales withdrew from the exchanges 17 320 BTC in a few hours.

Recall that since the collapse of the bitcoin in mid-March, the users brought with purses trading platforms more than 310 000 BTC.

Source: forklog.com

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