Major cryptocurrency holders have bought a record amount of bitcoin

Large cryptocurrency holders, known as «whales,» took advantage of the market’s decline and purchased 71,000 BTC. The value of the investment is $ 4.3 billion at current prices.

In early July, when the price of bitcoin fell to $ 54,200, investors became more active, according to data from the analytical company IntoTheBlock. A cryptocurrency analyst from CryptoQuant noted that this was the fastest accumulation of bitcoin since April 2023. Back then, several banks in the United States failed, prompting investors to turn their attention to cryptocurrencies.

On the other hand, smaller traders sold their assets during the current downturn. At the same time, the number of wallets holding at least 10 BTC increased by 261 in the first 10 days of July. According to analysts, this indicates long-term confidence in the future of bitcoin.

However, not all major bitcoin holders plan to keep their assets for a long time. One of the «sleeping» bitcoin whales woke up after 12 years, transferring 1000 bitcoins worth almost $ 60 million to two new wallets.