Crypto Whales Have Activated: Do They Accumulate Bitcoin Before The Sale?
Last week was especially significant for Bitcoin: a price break above $9,000 prompted major investors to buy the flagship cryptocurrency. This is evidenced by the data of the Sentiment crypto platform.
Buying Bitcoin is now more than ever the center of attention thanks to the upcoming halving. For crypto whales, this is a great opportunity to collect “cream” from open long positions. It is expected that the price of the flagship cryptocurrency will rise sharply a few days before dividing Bitcoin in half, so the largest investors want to play to increase the rate.
Investors enter the race to buy Bitcoin
According to researchers, investors were involved in the Bitcoin race, their wallets have been passive for a long time. Targeted accumulation of Bitcoins is recorded in more than 10,000 addresses. Crypto-analysts believe that this activity is associated with the possible sale of the flagship crypto after halving the block reward. A similar situation has already happened earlier: a few months before the previous halving, large players in the cryptocurrency market sharply increased their Bitcoin purchase volume.
This trend in the cryptocurrency market was commented by the representative of Santiment Dino Ibisbegovic.
“We analyzed data from our media platforms and concluded that users have changed their mood to the flagship cryptocurrency on the eve of halving. The situation is paradoxical: before the price breakthrough, Bitcoin was above 9000 degrees of interest. Bitcoin was higher than now.”
It’s still difficult to say exactly how the mood within the crypto community will change after the Bitcoin halving. But the fact that crypto-kits massively accumulate Bitcoin can say one thing: we can become witnesses of the sale of Bitcoin shortly at an increased price.