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Bitcoin (BTC) Whale Accumulation Continues Amid Its Sideways Movement

Bitcoin (BTC) Whale Accumulation Continues Amid Its Sideways Movement
After failing to cross the $59,000 market earlier this week on Monday, Bitcoin (BTC) has been trading sideways correcting almost 10% since then. At press time, the BTC price is trading 1.64% negative at $54,827 with a market cap of $1.024 trillion.
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.
Courtesy: Santiment
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.


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