The aggressive buying by this particular cohort of Bitcoin holders signals a potential “long-term bullish divergence,” according to crypto sentiment platform Santiment.
Crypto could be in “optimal conditions” for a breakout as Bitcoin whales and sharks accumulated 36,322 Bitcoin over the past nine days while retail dumped, according to analysts from Santiment.
“Bitcoin’s whales & sharks continue to accumulate,” Santiment said in an X post on Tuesday, after Bitcoin (BTC) dropped 4.55% over 24 hours, trading at $89,110 at the time of publication.
Between Jan. 10 and Jan. 19, Bitcoin wallets holding between 10 and 10,000 Bitcoin (also referred to as “smart money”) accumulated $3.21 billion in Bitcoin.
