The world’s largest non-exchange Bitcoin whale now holds over $2 billion worth of BTC following a massive string of transactions in early June.
According to crypto data platform BitInfoCharts, the whale has added 2,554 BTC in a series of transactions since June 14. Between June 14 and June 18, the address purchased 1,698 BTC worth $36.62 million and accumulated another 856 BTC worth $17.35 million since.
Bitcoin is trading for $21,424 at the time of writing.
According to analytics firm Santiment, the number of Bitcoin whales is increasing despite the current crypto market downturn.
Santiment says the number of whales holding more than 10,000 BTC began to increase in February while the number of addresses holding between 10 and 10,000 BTC inched up earlier this month.
Analysts at InsideBitcoin note that BTC is likely to break through the upper boundary of the channel and a higher resistance lies at $23,000. Currently, BTC is about to close the weekly candle with a temporary victory in favor of the bulls. The large Bitcoin holdings by whales also support this belief.
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