Bitcoin whales accumulate 200K BTC in a month

Bitcoin (CRYPTO:BTC) whales have been actively accumulating the cryptocurrency, purchasing over 200,000 BTC in the past month alone, according to on-chain data from CryptoQuant.

This trend is part of a larger accumulation phase that began in November 2024, with these whales collectively acquiring over 1 million BTC since then.

The recent price slump in Bitcoin, which dropped from around $99,000 to as low as $77,000, has not deterred these high-net-worth holders.

Instead, they have taken advantage of the lower prices to increase their BTC holdings significantly.

These whales, typically holding at least 1,000 BTC with an average acquisition age of less than six months, are believed to include deep-pocketed individuals and institutions.

The catalyst for this accumulation is partly attributed to Donald Trump's emergence as the U.S. president, who has expressed support for Bitcoin.

Since his inauguration, these whales have shown a bullish stance on the cryptocurrency, anticipating favorable regulatory conditions.

While this accumulation trend could provide strong support for Bitcoin's price if it continues to rise, some analysts caution that it may also signal bearish sentiment.

Long-term holders often accumulate during bear markets, and some experts believe the bull cycle may be over.

Despite these mixed signals, the influx of fresh capital into Bitcoin could set a strong foundation for future price increases.

If the accumulation trend persists, Bitcoin may revisit its all-time high of $109,100 and potentially exceed it.

At the time of reporting, the Bitcoin (BTC) price was $86,568.99.