According to current data, whales continue to accumulate Bitcoin (BTC) without slowing down.
Julio Moreno, Research Director of On-chain research company CryptoQuant, shared a graph revealing that whales with 1,000-10,000 BTC are constantly adding to their Bitcoin holdings. Moreno implied that this parabolic rise brings significant buying pressure, emphasizing the increasing demand against a limited supply of Bitcoin.
The correlation between the increase in whale balances and the rise in Bitcoin price did not go unnoticed.
Julio Moreno emphasized that this data did not include exchanges and mining pool wallets:
The growth of whales’ Bitcoin holdings is becoming parabolic. Whales represent investors with balances of 1k-10k Bitcoin. Exchange and mining pool addresses are not included on this graph.
