Bitcoin Bullish Signal: Whales Go On $1.4B Buying Spree

Bitcoin Bullish Signal: Whales Go On $1.4B Buying Spree


On-chain data shows Bitcoin whales have accumulated $1.4 billion in the asset during the last two weeks, a sign that could be bullish for the coin.

Bitcoin Whales Added 70,000 BTC To Their Holdings In Two Weeks

As pointed out by an analyst on Twitter, BTC whales have been showing accumulation behavior recently. The relevant indicator here is the “Bitcoin Supply Distribution,” which is a metric from on-chain analytics firm Santiment that tells us which wallet groups in the market are holding what amount of the crypto right now.

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Wallets are divided into these groups based on the total number of coins they are holding currently. For example, the 10-100 coins cohort includes all wallets that are carrying a balance of at least 10 and

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