Bitcoin whales are reportedly engaged in reaccumulation, according to renowned on-chain analytics provider CryptoQuant. The whales are currently in the process of reaccumulation to maximize their profits. CryptoQuant took to its X account to announce this development.
The buying pressure from the whales has already begun to impact market prices, with expectations that it will further intensify in the upcoming weeks. CryptoQuant highlighted in a post that this move by the whales is causing buying pressure to emerge, influencing market prices. However, the peak of this pressure has not been reached yet. The analytics firm predicts that the buying pressure will significantly increase in the weeks to come.
In a separate post on its official website, CryptoQuant pointed out the typical behavior of institutional investors when it comes to trading. These investors focus on market opportunities with a long-term profit vision, unlike the dedicated BTC investors who are more inclined towards building long-term reserves.
On the other hand, Bitcoin whales are more focused on medium-term profits. CryptoQuant emphasized that the current sentiment of these whales has various indications, which can be easily observed through the monthly changes in BTC reserves.
This development follows an extreme distribution period in March, where platforms holding over 1,000 BTC tokens displayed a distribution and accumulation pattern that directly influenced pricing. Institutional investors began the reaccumulation process in the last two weeks after the intense distribution phase in March.
