Market

Whales quietly collected 40,000 BTC during this drop, according to Santiment

According to analytics platform Santiment, whales are buying Bitcoin (BTC) even though the price continues to fall this week.

Santiment pointed out that whale addresses holding between 1,000 and 10,000 Bitcoin bought another 40,000 Bitcoin this week.

This group of whales now own the same amount of BTC as they did before the dumping began in late December, when Bitcoin was priced around $49,000.

The source: Mood/Twitter

Bitcoin is trading at $36,485 at press time, down more than 24% from a month ago. The leading cryptocurrency by market cap is also down around 8.5% over the past seven days.

Santiment says 8.91 million more Bitcoin are being stored in non-exchange wallets than a decade ago. The total number of coins held in these wallet addresses is currently at an all-time high of almost 17 million Bitcoin.

The source: Mood/Twitter

While the crypto king is nearly 46 percent below the all-time high of $68,700 set in early November, the market analysis firm notes that BTC returns over the past five years are still 47 percent higher than that. 0.5 times higher than the S&P 500 and 84.5 times higher than gold.

The source: Mood/Twitter

You can see the details of the BTC price here.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.