Bitcoin Whales Amass Record Amounts Over 60 Days

Bitcoin whales have been accumulating large amounts of Bitcoin over the past 60 days. According to on-chain researcher Amar Taha, wallets holding between 100 and 1,000 BTC have accumulated a total of 73,300 BTC since May 31. This is the highest level of accumulation in this cohort since April 21.

This period of accumulation has been marked by relatively low price volatility for Bitcoin. In contrast to earlier periods, smaller whales (those holding between 100 and 1,000 BTC) are buying while larger whales (those holding over 10,000 BTC) are also accumulating, with a total of 43,300 BTC accumulated in the same period.

It's worth noting that on-chain data cannot determine the owners or intentions behind these transactions. As such, this accumulation does not necessarily prove institutional buying or guarantee any future price movement for Bitcoin.