Santiment Reports Whales Accumulate $5.76 Billion in Bitcoin Over Six Weeks Amid Crypto Downturn

Deep-pocketed Bitcoin investors are rapidly acquiring BTC, with analytics firm Santiment reporting that whales have purchased over $5.76 billion worth during the recent market correction.

Specifically, wallets holding between 100-1,000 BTC have added 94,700 more coins in the last six weeks, despite market uncertainty driving many traders away. Similarly, Glassnode’s Accumulation Trend Score (ATS) shows a shift towards accumulation, reaching its highest value, while CryptoQuant’s indicator also signals a return to a bullish market. As of now, Bitcoin is trading at $60,516, reflecting a 4% increase on the day

Clever Robot News Desk 21^st August 2024