itcoin whales are collecting BTCs from the bottom in the crypto market, which has been flat for months and even experienced sharp declines from time to time. According to on-chain analysis platform CryptoQuant analyst Axel Adler’s latest post on X; Whales holding over 1000 BTC have bought more than 1.5 million Bitcoin since March.

Not the stock market or miners

As seen in the title of the chart below, which Adler shared, the whales mentioned here are not centralised exchanges or miners. In his tweet on the subject, Adler used the following statement:

“Whales holding over 1000 BTC have collected more than 1.5 million Bitcoins in the last 6 months. There is really nothing to discuss here”

In his later tweets, Adler said that small and short-term investors continued their sales.

CryptoQuant stated in one of its recent analyses on this issue that short-term investors were negatively affected by price volatility and that it was determined that they sold at a loss for most of 2024.

Bitcoin, which fell below $59,500 yesterday, is priced around $61,140 in the minutes the news was written.