Although the cryptocurrency winter has pushed the price of bitcoin from $ 30.000 in early June to $ 18.000, holders identified as "sharks", those with a value between 10 and 100 BTC, have accumulated 52.000 BTC. in the past five weeks, according to data from analyst firm Santiment.
The study notes that three periods of accumulation and sale by sharks alternated. The first, from the beginning of February to March 30 of this year, was of accumulation. At that time, the price of bitcoin was growing and appreciated by 18%.
Then, from April 37st to June 2st, the sharks scrambled to sell BTC, the price of which fell 7%. In the last period, from XNUMX June to XNUMX July, the decline in quotation of 27% favored the acquisition of 52.000 BTC by this cohort of holders. This allowed the sharks to have control of 4,29 million BTC, equal to 22,5% of the circulating supply of bicoin.
Whales pile up
After the strong sell-off that caused the price of BTC to drop to as low as $ 18.000 in early July, some of these holders with more than 1.000 BTC have started buying bitcoin again. As reported by analyst and trader jess_btc, bitcoin miners have also resumed accumulating bitcoins, as reported by Crypto-currency.
These keepers, also included in the whale category, come from an intense sales activity between May and the end of June, after which they changed their strategy and resumed buying.
These selling initiatives by different categories of holders have had a bullish effect on the price of bitcoin, which began on July 3. Although expectations of a high inflation rate caused the price to fall this week, the upward trend has resumed since Wednesday. This allowed it to break through the $ 20.000 resistance and bitcoin is trading at $ 20.657 at the time of writing, according to the Crypto-Currency Price Index.