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It seems that BTC whales are looking to start accumulating more of their favorite crypto now that the price has somewhat stagnated at around $36,000. A lot of these whales either sold at Bitcoins all time high near $65,000 or kept it a bit longer and sold right before the dip happened. Now that BTC is at half the ATH price and as stable as BTC gets it really looks like it might be buying time.
As usual, whales buying and selling is a major thing in the crypto space since a lot of people follow these movements hoping to jump on the hype-train as soon as possible and reap the rewards, and you can't really blame them with how that tactic usually pans out... pretty well to be honest. Since whales dumping usually means they are expecting a dip or crash, whales buying means the coin has quite likely reached somewhere around it's bottom price for the time being.
The example below is just one of the whales that sold at almost the perfect time before the dip. Following his lead are plenty of other whales just waiting to get back on that money plane. Looking at the USD number might make you dizzy so caution is advised.
Other BTC whales with 100 to 10k BTC have accumulated 30k more coins in the last week, this mass buying by no surprise coincided with the rejection at $40,000. To quote santiment:
This might just be the catalyst that sends BTC over that coveted $40,000 figure a lot of analysts think will be a breaking point for the current trend that crypto in general could take. Cause where BTC goes, most other crypto follows. With the 50% drop it would be quite unlikely for the price to fall even further since this is still a correction in a way and not a downfall of BTC. What goes down, must come up... that's not really the correct phrase but it is for Crypto!
There is a lot to be analyzed here honestly but I am no expert or analyst so I'll stick to what I'm good at and that is transferring important and beneficial news to my viewers and followers! With how red May has been, now with June finally starting, it might just be time to get back on the saddle and enjoy the greenery.
Thanks for reading hope you enjoyed it!
