However, the BTC downward pressure hasn’t deterred the whales from accumulating more Bitcoins. As on-chain data provider Santiment reports , new Bitcoin whale addresses have been created during the recent sideways movement. The total number of Bitcoin addresses with 1000+ BTC has jumped above 2,234. On Tuesday, May 4, seven news 1000+ BTC addresses were created, registering the largest ever single-day growth in two months.
Similarly, despite the BTC price moving sideways, the Bitcoin address activity continues to shoot higher. Bitcoin’s daily active addresses touched a 3-week high on Tuesday, May 4.