Bitcoin Sharks and Whales Accumulate Over 20,000 BTC During Price Decline

On-chain data indicates that Bitcoin sharks and whales have accumulated over 20,000 BTC during the recent price decline, a potential bullish signal for Bitcoin.

Key Points

Sharks and whales have bought 20,061 BTC worth $2.3 billion since August 13.
Investors in this category typically hold between 10 to 10,000 BTC.
Their combined holdings decreased in July but reversed after BTC's recent ATH above $124,000.
Since March 22, these groups accumulated a total of 225,320 BTC valued at $26.1 billion.
Correlation exists between their holdings and future price movements, as noted by analytics firm Santiment.

Additionally, the number of Bitcoin treasury buyers has declined to 2.8 per day despite reaching ATHs, suggesting market saturation concerns.

Current BTC Price

Bitcoin is currently priced at $115,500, representing a 3% decrease over the past week.