Whales have not stopped accumulating bitcoin. Current trend patterns suggest that bitcoin whales who hold between 100 to 1,000 BTC remain very bullish on the digital asset’s prospects. The slow month of September had seen the asset suffer dips and crashes which brought the price down to the $40K trading range. However, whales had used this as an opportunity to increase their holdings at a low price.
Bitcoin wallets holding between 100 and 1,000 had continued to add to their balance and by the end of September, these wallets had accumulated a collective total of 85.7K BTC. In today’s prices, this amount would total $4.76 worth of BTC accumulated by whales while retail investors panicked sold their holdings. These whale addresses have also held on their bags through the long-suffering month of September.
Whales Increase Their Hold On Circulating Supply
As bitcoin whales accumulate more coins, the amount of the