BTC Whale Accumulation on the Rise As Number of Addresses Holding More Than 100 Bitcoin Hits New ATH

BTC whale accumulation on the rise, setting new bullish records.

The number of addresses holding more than 100 Bitcoin hits new ATH

BTC and ETH whale wallets have increased in August.

The price of Bitcoin continues trading in the lower price range of $110,000 and $112,000, giving BTC whales a golden opportunity to accumulate. With BTC whale accumulation on the rise, the number of addresses holding more than 100 Bitcoin hits a new ATH. This not only shows that analysts expect the price of Bitcoin to continue to rise but also the fact that decentralization is taking root

BTC Whale Accumulation on the Rise

The pioneer crypto asset Bitcoin (BTC), set a new ATH almost two weeks ago in the $124,000 price range. The price of BTC hit this new bullish target only to immediately and rapidly fall to lower prices. In detail, the price of BTC first collapsed to the $115,000 price range before rallying to the $118,000 price range, and then falling again to below $113,000, where it was trading yesterday at a low of $110,000

This incredibly steep drop in BTC prices allowed BTC whales to heavily accumulate more Bitcoin (BTC) amid the dip. With analysts keen on seeing new ATH prices for BTC after the September correction, every dip is seen as a golden opportunity to grab more BTC, before the pioneer crypto asset can rally and claim new ATH prices. This sudden surge in BTC accumulation has allowed Bitcoin to set a new record

As we can see from the post above, the number of addresses holding more than 100 Bitcoin recently hit a new ATH. This is an undeniable factor confirming the fact that whales are continuing to heavily buy BTC amid the dip, despite growing bearish and FUD sentiments. Perhaps these accumulation efforts will only grow stronger during the expected bearish red correction in the coming September, when BTC is expected to fall to the $90,000 price region.

Whale Activity Signals Crypto Rebound

According to responses to the post, this heightened whale activity shows the strength of decentralization taking root, as well as trust and resilience of the ‘big money’ traders. The response also shows excitement over Bitcoin’s growth in value. What’s more, another insight observes that this swift whale activity is signaling a crypto rebound for both Bitcoin (BTC) and Ethereum (ETH) prices

As we can see from the post above, the heightened whale wallet activity signals a crypto rebound as BTC and ETH stakeholder numbers continue to grow. As of August, 13 additional BTC wallets holding over 1,000 BTC and 48 more ETH wallets holding over 10,000 ETH have been added. The expectation now is that smart money is accumulating while others are panic-selling during the dip.