Bitcoin Whales Stockpile 48K BTC Amid Market Volatility

Bitcoin whales have been quietly accumulating the cryptocurrency since late May, defying market volatility. According to Crypto Quant, these accounts, holding between 1,000 and 10,000 BTC, began accumulating in early May when prices were around $80,000.

The period of accumulation has continued even as prices declined 17.25% to a current $66,256. In the last month alone, this cohort has accumulated 48,000 Bitcoins, bringing their total stash to 3.09 million Bitcoins, similar to the amount they held in February of this year.

The whales' accumulation strategy is likely based on Dollar-Cost Averaging (DCA) rather than timing markets for ripe entry levels. Even so, these whales are likely anticipating a major market turnaround following recent developments in global crypto regulation and technical setups.

US President Donald Trump recently signed an ethics package barring him and any other high-ranking officials from profiting off the crypto policies they shape. Despite this development, nations such as Japan and Russia are way ahead of America in terms of crypto regulation, building pressure for swift policy legalization.