24/7 Cryptocurrency News

Bitcoin Whales Buys Over 52K BTCs Amid Price Dip

According to the Santiment, Bitcoin whales which hold 10 to 100 BTCs have gone on to capitalize on the recent dip.
Published by
Bitcoin Whales Buys Over 52K BTCs Amid Price Dip

Bitcoin (BTC) price recovered to trade over the vital $21K price level. However, it is still trading down by 30% over the past 30 days. Meanwhile, major whales have grabbed the opportunity to increase their BTC holdings.

Advertisement

Bitcoin dropped 56% in 2nd quarter

According to the Santiment, Bitcoin whales which hold 10 to 100 BTCs have gone on to capitalize on the recent dip. They have added around 52K more Bitcoins to their wallets over the past 5 weeks.

In the meantime, Bitcoin’s price has retraced by -27%. This accumulation has increased their Bitcoin holding to 4.29 million.

Bitcoin is trading at an average price of $21,675, at the press time. Its prices have managed to jump by 13% in the last 7 days. However, its price has registered the worst price drop quarterly wise in the last 11 years.

Prices dropped by 56% in the second quarter of 2022. This has been the 2nd worst performance by BTC in its history quarterly wise. This price movement has motivated the whales to add more tokens.

Advertisement

Whales on a buying spree

Meanwhile, Bitcoin’s 24 hour trading volume has jumped by $54.5 billion. However, Its dominance has increased with the recent price surge. As per the report, the global crypto market has been affected by an unfavorable macroeconomic outlook.

Coingape reported that BTC price collapsed by over 37% in the month of June 2022. The largest of the BTC whale went on to add 786 Bitcoins in the first week of July. It added more than $16 million worth of BTCs. The whale is now holding over $132K Bitcoins. It is now valued at around $2.6 billion.

Glassnode noted that the whales holding over 1,000 BTC have been on a major buying spree recently. These whales have been accumulating approx 140K BTCs per month and that too directly from the exchanges. Whales hold around 8.7 million Bitcoins. It is being calculated as around 45.6% of the supply.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

SEC Issues Guidance Enabling Ripple, Coinbase, BitGo to Qualify as Custodians

The U.S. Securities and Exchange Commission (SEC) has issued a new guidance. This allows investment…

October 1, 2025
  • 24/7 Cryptocurrency News

Fed’s Goolsbee Cites Inflation Worries in Case Against Further Rate Cuts

Federal Reserve Bank of Chicago President Austan Goolsbee has warned that inflation risks could outweigh…

October 1, 2025
  • 24/7 Cryptocurrency News

David Schwartz To Step Down as Ripple CTO, Delivers Heartfelt Message to XRP Community

David Schwartz has announced plans to step down from his role as Ripple's Chief Technology…

October 1, 2025
  • Bitcoin News

Michael Saylor Reveals Strategy’s Endgame To Accumulate $1 Trillion Bitcoin For Its Treasury

According to Strategy executive chairman, Michael Saylor, the company has an ambitious vision for its…

October 1, 2025
  • Bitcoin News

CZ Hints at ‘Uptober’ Bitcoin Rally Following Green September

Binance founder Changpeng "CZ" Zhao has hinted at another potential 'Uptober' rally as he alluded…

September 30, 2025
  • Bitcoin News

BlackRock Now Holds 3.8% of Bitcoin Supply; Bloomberg Analyst Explains Why It’s ‘Extraordinary’

The world's largest asset manager, BlackRock, now holds 3.8% of the total Bitcoin supply through…

September 30, 2025