Large investors have been actively accumulating Bitcoin during market downturns, potentially viewing them as buying opportunities and then selling during periods of market revival or anticipation of increased institutional adoption.
Mid-2022 witnessed the start of mass dumping as US interest rates wreaked havoc on all markets and dragged BTC down below $17,000. The addition of 154,560 more BTC over the past five months leading up to late May 2024 indicated significant accumulation by large investors during this period. On the other hand, when these holders begin to offload their BTC stash, it often indicates the onset of a prolonged bear market.
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