Skip to content

More News Guides Info

Latest News

Latest Guides

About Contact Privacy policy Disclaimer Editorial Code of Conduct Corrections Policy Terms & Conditions Advertising & Affiliate Disclosure
LIVE
Loading prices...
Bitcoin whales scoop 20,000 BTC in dip, eyes on rally

Bitcoin whales scoop 20,000 BTC in dip, eyes on rally

Bitcoin whales scoop 20,000 BTC in dip, eyes on rally

Industry
Ana Zirojević

As the wider cryptocurrency market is going through a bit of a slowdown that has paused its previous rally, crypto assets seem to be taking a cue from the industry representative – Bitcoin (BTC), and things are looking good there, considering its whales have scooped up 20,000 BTC.

Ad

Specifically, Bitcoin’s largest holders, known as whales and sharks, have continued to accumulate their favorite coin throughout the mild dip from last week’s all-time high (ATH), having bought 20,061 BTC since August 13, according to Santiment data shared on August 18.

Bitcoin’s whales and sharks adding BTC to their wallets. Source: Santiment
Bitcoin’s whales and sharks adding BTC to their wallets. Source: Santiment

Whales and sharks continue hoarding Bitcoin

Indeed, wallets holding between 10 and 10,000 BTC have acquired this much as part of an accumulation of 225,320 BTC since March 22, and have indicated “notable correlation between this group’s holdings and the direction of future price movements for the majority of the past five years.”

Currently, Bitcoin is changing hands at the price of $115,485.55, recording an increase of 0.20% in the last 24 hours in the face of a 2.86% decline in the previous seven days and a drop of 2.08% on its monthly chart, per the latest CoinMarketCap information on August 19.

Ad
Bitcoin 24-hour price chart. Source: CoinMarketCap
Bitcoin 24-hour price chart. Source: CoinMarketCap

As a reminder, the bearish sentiment halting Bitcoin’s progress stems from the unexpectedly hot Producer Price Index (PPI) numbers for July, rising annually by 3.3% and cutting short the crypto surge triggered before that by soft Consumer Price Index (CPI) and other positive developments.

All things considered, Bitcoin’s future is looking good despite a temporary setback, particularly as the institutional interest in it isn’t showing signs of waning, as Michael Saylor’s Strategy (formerly MicroStrategy) has demonstrated by boosting its holdings to 629,376 BTC.

How do you rate this article?

Subscribe to our YouTube channel for crypto market insights and educational videos.

💥The EU's finally catching up to the Crypto Race

💥The EU's finally catching up to the Crypto Race

Bitcoin might be losing to gold 💀

Bitcoin might be losing to gold 💀

💥Trump Just Cancelled Europe's' Tariffs

💥Trump Just Cancelled Europe's' Tariffs

🏆This is how you build a WINNING Crypto Portfolio

🏆This is how you build a WINNING Crypto Portfolio

😳BitMine Just Made a $200M Bet on Mr Beast!

😳BitMine Just Made a $200M Bet on Mr Beast!

💥Iran's Crypto Activity Just Exploded

💥Iran's Crypto Activity Just Exploded

Subscribe View all videos

Join our Socials

Briefly, clearly and without noise – get the most important crypto news and market insights first.

Follow us on X @Techgaged_news
Join our Telegram TechGaged Global
Follow on Flipboard @TechGaged

Tags:

Bitcoin
BTC
Crypto
cryptocurrencies
cryptocurrency
Price
shark
sharks
Wallet
Wallets
whale
whales
Ana Zirojević

Ana Zirojević Crypto journalist and market analyst with 7+ years of experience covering digital assets, blockchain technology, and data-driven market analysis.

Most Read Today

1

Samsung crushes Apple with over 700 million more smartphones shipped in a decade

2

Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008

3

Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims

4

XRP Whales Buy The Dip While Price Goes Nowhere

5

Cathie Wood: $28 Billion Bitcoin Deleveraging Drove Recent Pullback

AD

Latest

8

Also read

Similar stories you might like.