Whale and Shark Addresses Accumulate Over 61,000 Bitcoins in the Past Month

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On March 27, Cointelegraph reported that data from Santiment shows that in the past month, whale and shark addresses holding between 10 and 10,000 Bitcoins have accumulated 61,568 Bitcoins, marking a 0.45% increase in their holdings. During the same period, addresses holding less than 0.01 Bitcoins added 213 Bitcoins, a 0.42% increase. The data indicates that Bitcoin exchanges have experienced continuous outflows throughout March, suggesting that holders are accumulating rather than selling. Santiment analysts noted that the accumulation by whales could be a ‘positive signal’ for a price breakout. Historically, when large wallets accumulate while retail investors sell off, it often indicates the beginning of a bull market cycle. The conflict in the Middle East has escalated since the U.S. and Israel launched strikes against Iran in February.

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