CryptoQuant reports that Bitcoin whales are currently engaged in the reaccumulation process, focusing on increasing profits. The analytics provider noted that the buying pressure from whales has already begun to affect market prices and is expected to intensify in the coming weeks. This news was shared on their X account.
According to CryptoQuant, institutional investors typically trade based on market opportunities with a long-term profit strategy in mind, differing from the more cautious approach of long-term BTC investors. Whales, on the other hand, aim for medium-term profits and their current sentiment can be detected through monthly fluctuations in BTC reserves.
The recent reaccumulation activity by whales comes after a period of extreme distribution in March, where institutional investors began the process of reaccumulation in the past two weeks. The variation in platforms holding over 1,000 BTC tokens can indicate this behavior, influencing pricing patterns. CryptoQuant highlights the importance of monitoring these trends for insights into market movements.