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As per data from Santiment, addresses holding between 10 to 10,000 Bitcoins have accumulated 71,000 coins over the past three weeks. The data provider noted: advertisement Bitcoin’s sharks and whales aren’t showing any signs of slowing down, even with prices beginning to get “boring” in this $30k to $31k range. Since June 17th, 10 to 10k $BTC addresses have accumulated 71k more coins, equating to $2.15 billion. Courtesy: Santiment However, after hitting $31,000 last Monday, Bitcoin has continued to faced selling pressure and has moved closer to $30,000. But another positive on-chain indicator for Bitcoin has been the drop in the BTC exchange re serve metric over the past month. This hints at a bullish sentiment among market participants. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must R...

As per the report from Santiment, Bitcoin whales have accumulated close to 60,000 BTC amid the recent price correction of 10% over the past few weeks. The report notes: “As #altcoin madness has ensued, there quietly is a #bullish divergence between #Bitcoin ‘s accumulating whales and falling price. With whale holdings moving up by ~1K $BTC per day while prices fall, there is reason to believe a strong rebound can occur.” Courtesy: Santiment On the other hand, the Bitcoin market dominance has also moved closer to 50%. This happens amid the recent crash in the altcoin prices last week following the high-handed SEC action. For the first time since April 2021, Bitcoin’s (BTC) dominance in the market reached 50%. Bitcoin dominance usually rises above 50% typically suggesting bear market characteristics as investors move money into safe haven large-cap coins. During the bear market of 2018, the BTC dominance had reached above 50%. Recommended ...