Whales Holding the Leading Cryptocurrency Bitcoin are Engaged in Reaccumulation Process
According to reports from the renowned on-chain analytics provider CryptoQuant, BTC whales are currently focused on reaccumulation to increase their profits. The analytics company made this revelation on its X account.
The Reaccumulation Process by BTC Whales
In a recent update, CryptoQuant stated that the whales’ buying activity is leading to increased buying pressure in the market. This buying pressure has already started impacting market prices and is expected to grow even further in the upcoming weeks, as mentioned by @caueconomy.
The company also shared a post on its official website elaborating on the behavior of institutional investors when it comes to trading. These investors are said to be trading based on market opportunities with a long-term profit perspective, as opposed to the more cautious BTC investors who focus on building long-term reserves.
Whales, on the other hand, have a medium-term profit goal and are currently displaying certain sentiments, as highlighted by CryptoQuant. The monthly fluctuations in BTC reserves can provide insights into their behavior.
After a Period of Extreme Distribution in March
The variation in platforms holding over 1,000 BTC tokens can indicate whether reaccumulation is taking place. A distribution and accumulation pattern has a direct impact on pricing, with March witnessing a significant distribution phase. Following this, institutional investors have started the reaccumulation process in the past two weeks.
