The whales have accumulated 130,000 bitcoins in the past few weeks

According to what Santiment revealed , in the last 5 weeks the whales have accumulated 130,000 bitcoins, for a value of over 5 billion dollars. 

This is an analysis carried out on-chain on those addresses that hold between 100 and 10,000 BTC. 

In fact, in total there are only 85 bitcoin addresses in the world that hold more than 10,000 BTC, and it is likely that almost all of them belong to exchanges or activities operating in the financial field. In other words, they are addresses on which BTCs are stored belonging not to whoever controls these addresses, but to their customers. 

Instead, there are almost 16,000 addresses that hold between 100 and 10,000 BTC, probably mostly belonging to real single “whales”, or real big holders of bitcoin. 

After the May crash, Santiment notes that these addresses have accumulated a total of 130,000 BTC in the past 5 weeks, with 40,000 accumulated in the last 10 days alone. 

This figure refers to the increase in the sum of all the BTC held overall in all those addresses. 

The fact that an accumulation phase has been triggered since May is now considered by many to be real evidence, but these data reveal that in recent days the accumulation process has probably even accelerated. 

It is possible that those who are accumulating these huge amounts of BTC do so because they expect the price to grow significantly in the future. 

After an initial accumulation phase, which began at the end of May and ended in mid-June, there was a short discharge phase, which lasted until the end of June. Instead, starting from early July there was a real small surge in accumulation, which then continued in the following days at a more contained pace, just as the price of bitcoin fell towards $ 30,000. 

The curious thing is that instead the number of BTC held overall on addresses with lower amounts in this phase has dropped, just as if in recent weeks there had been a shift of bitcoin from less rich addresses to richer addresses. 

In short, there could be a real shift of BTC from the so-called “never weak” to the strong ones.

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