On-chain data, bitcoin It reveals that (BTC) whales have accumulated tens of thousands of crypto kings over a little over a month.
According to blockchain analysis firm Santiment, whales, or assets holding between 1,000 and 10,000 Bitcoins, have accumulated over $2.32 billion in top crypto assets in the past five weeks alone.
Santiment is one of the leading companies after BTC whales embarked on a similar accumulation spree between late December and early January 2022. crypto- that the price of its asset rose by over 30% earlier this year says.
“Bitcoin’s layer of important big whale addresses has been in a steady accumulation process over the past five weeks, accumulating a total of 84,897 BTC over that time while prices were stagnant. In the previous accumulation cycle in January, prices had increased by 34.4%.”
NEWS CONTINUES BELOW
In another potential bullish signal based on Santiment’s data, crypto trader Ali says that in one day, more than 20,000 Bitcoins worth over $546 million were withdrawn from centralized crypto exchanges.
“Santiment’s Bitcoin – on-chain data shows that over 20,000 BTC has been received from known crypto exchange wallets in the last 24 hours.”
Earlier this week, the analytics firm revealed that it has found that sentiment in the crypto markets is bullish, with optimism rising compared to previous weeks.
“By filtering popular trending videos as we start the second half of May, we see that sentiment is mostly bullish. Overall, we can conclude that these are a good reflection of audience sentiment. There is more optimism than in the past few weeks.”
At the time of this news bitcoin It is trading at $27,351.