Whales accumulate over $1 billion in Bitcoin, and the next price move could make these addresses worth more or less.AMBCrypto’s analysis showed that some addresses accumulated a significant volume of BTC as its price struggled over the last two days. Additionally, the supply of Bitcoin on exchanges has continued to decline.was attempting to correct its price, some whales were accumulating. Notably, more than 20,000 BTC were accumulated in whale wallets during this period.
A study of inflow into accumulation addresses showed that accumulation spiked during the period when BTC’s price fell, indicating strategic moves by these addresses.An analysis of the accumulation showed that it was worth over $1.3 billion, with the price of BTC around $67,000.Data from Santiment indicated a notable drop in BTC supply on exchanges between the 10th of June and the time of this writing. The chart showed that on the 10th of June, the Supply on Exchanges was 954,000.
As of this writing, Bitcoin has lost most of its gains and has returned to the $67,000 price range. It was trading at around $67,350, with a decline of over 1.3%. As it has been doing for days, it remains close to its support levels. The support level, indicated by its short moving average , is around $66,000 to $65,000.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.
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