220,000 BTC Bought by Bitcoin Whales Since December, Quickest Accumulation Since Late 2019: Santiment

Mega Bitcoin whales have added 220,000 BTC in the past two months on the dip

On-chain data aggregator Santiment has spread the word about mega Bitcoin whales massively accumulating the flagship cryptocurrency since December.

According to the tweet, these are Bitcoin wallets holding 1,000 BTC and more. Over the past seven weeks, their owners have purchased a mind-blowing 220,000 Bitcoins. This amount of the leading crypto is equal to $9,668,076,000 in fiat.

The accumulation has been going on since December 23, when Bitcoin traded in the $48,300 area and started falling several days later. Since the start of 2022, BTC has risen from the $48,100 level to the low of $33,500 last seen in May 2021. This is the fastest accumulation since September 2019, according to Santiment.

By now, the Bitcoin price has propelled to $43,943 per CoinMarketCap.

🐳 Mega whales of #Bitcoin have accumulated significantly the past 7 weeks. Addresses with 1,000 $BTC or more have added a combined 220,000 $BTC to their combined wallets since December 23rd, the most rapid accumulation we've seen since September, 2019. https://t.co/RdVAg9FcP7 pic.twitter.com/gL1nJ18hyA

— Santiment (@santimentfeed) February 8, 2022

Earlier this month, data shared by IntoTheBlock suggested that Bitcoin whales holding over 1,000 BTC had entered an active phase of crypto king accumulation. The data agency pointed out that these wallets start buying when the price drops.