Whales Seize Opportunity as Bitcoin Price Dips Below $64K

Bitcoin's price slipped below $64,000 earlier today but showed resilience by finding support at that level. Despite this setback, large Bitcoin holders or 'whales' took advantage of the dip to accumulate more BTC.

According to Santiment, there are now 2,044 addresses holding at least 1,000 BTC, with these whales collectively controlling 7.17 million BTC, the highest level since March 14.

This represents a significant share of Bitcoin's available supply, accounting for 35.82% of the total. Additionally, crypto analyst Darkfost noted that addresses holding more than 1 BTC have increased their combined holdings to a new all-time high of over 16.8 million BTC.

Darkfost attributed this trend to Bitcoin's gradual institutionalization and cautioned that it should be viewed from a long-term perspective. Meanwhile, retail investors are also showing signs of renewed accumulation, albeit at a slower pace.