Bitcoin Whales Deploy More Funds During Dip, Creating 342 New Wallets
Bitcoin whales took advantage of the recent price dip, accumulating more assets and creating 342 new wallets.Bitcoin has had a volatile week, briefly peaking at $100,400 on Monday before dropping below $94,400. Meanwhile, Bitcoin is recovering toward the $100K level again, highlighting ongoing market fluctuations.Remarkably, large-scale Bitcoin holders, commonly known as whales, demonstrated notable activity amid this price movement.342 New Bitcoin Wallets Created by Whales Amid DipMarket data revealed that 342 new wallets holding more than 100 Bitcoin were created during the recent price decline. In particular, these wallets emerged as Bitcoin dropped from $104,000 to the $90K region. Analysts observed that this trend aligns with the broader behavior of whales, who historically capitalize on price dips to bolster their holdings. https://twitter.com/ali_charts/status/1866829285815882134Despite market volatility, the stable proportion of Bitcoin held by whales, as indicated in a chart by IntoTheBlock, points to long-term confidence among these investors. According to the market intelligence platform, whale holdings remained unchanged over the past 30 days.Mixed Activity Among Investors and RetailMeanwhile, the investor category saw significant activity growth over the past month, with holdings among mid-tier investors increasing by 2.69%. This suggests growing market participation and accumulation by these holders.In contrast, retail participants, who dominate Bitcoin's ecosystem, experienced a slight decline in holdings. Their share decreased by 0.23%, indicating reduced activity or minor sell-offs among smaller holders.
Text source: The Crypto Basic
