Bitcoin whales are currently engaged in the process of reaccumulation, as reported by the top crypto token holders. According to renowned on-chain analytics provider CryptoQuant, these whales are strategically reaccumulating to maximize their profits. The analytics company took to their X account to announce this significant development.
The reaccumulation process by the whales has already started to create buying pressure in the market, impacting prices. However, CryptoQuant emphasized that this pressure is expected to further intensify in the upcoming weeks. The analytics firm also shared a post on their official website, highlighting the trading intentions of institutional investors. These investors are said to focus on long-term profitability based on market opportunities, unlike the steadfast BTC investors who aim to build long-term reserves.
Unlike institutional investors, whales are more inclined towards medium-term profits, according to CryptoQuant. The current sentiment of Bitcoin whales is indicated by various factors, including the monthly fluctuations in BTC reserves. The behavior of whales can be easily identified through these fluctuations.
This development follows a period of extreme distribution in March, where platforms holding over 1,000 BTC tokens exhibited a distribution and accumulation pattern that directly impacted pricing. After the intense distribution period in March, institutional investors have now begun the reaccumulation process in the past two weeks.