Bitcoin whales are currently engaged in the process of reaccumulation, as reported by the top crypto token, Bitcoin. According to the renowned on-chain analytics provider, CryptoQuant, these whales are strategically reaccumulating to maximize their profits. The analytics company made this announcement on their X account.
The ongoing reaccumulation by whales has started to generate buying pressure, impacting market prices already. However, CryptoQuant emphasized that this buying pressure is expected to increase significantly in the upcoming weeks. They foresee a surge in market activity as a result of this strategic move by the whales.
In a recent post, CryptoQuant highlighted the typical trading behavior of institutional investors. These investors are known to make decisions based on market opportunities with a long-term profit vision in mind. Unlike them, BTC investors with a strong conviction tend to focus on building long-term reserves.
On the other hand, whales are more inclined towards medium-term profits and have a different approach compared to institutional investors. CryptoQuant pointed out that the current sentiment of Bitcoin whales can be observed through various indicators, such as monthly fluctuations in BTC reserves.
The recent development of whales reaccumulating comes after a period of extreme distribution in March. The fluctuation in platforms holding over 1,000 BTC tokens can provide insight into this behavior. The distribution and accumulation patterns directly impact pricing, with institutional investors starting the reaccumulation process in the past two weeks following the intense distribution phase in March.