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In the face of recent market turbulence, Bitcoin (BTC) whales have displayed unwavering confidence in the cryptocurrency. Crypto analyst Ali Martinez has reported that despite a recent price correction that briefly pushed Bitcoin below the $40,000 mark, large holders of BTC have been actively increasing their holdings.
Martinez’s analysis revealed that approximately 67 new entities now own 1,000 BTC or more, marking a significant 4.50% increase in holdings within a span of just two weeks. This development comes on the heels of a market correction that sent shockwaves through the crypto landscape.
Interestingly, 80% of Bitcoin holders are currently in a profitable position, indicating that most investors have weathered recent market turbulence successfully. The accumulation of BTC by whales during this uncertain period highlights a divergence in sentiment between institutional and retail investors. While retail traders may have been nervous, institutional players see it as an opportunity to increase their exposure to Bitcoin.
