CryptoQuant: Whales holding 1,000 to 10,000 BTC have resumed buying Bitcoin

ChainCatcher message indicates that, based on blockchain data, Bitcoin whales have resumed significant purchases of Bitcoin for the first time since the price peak in March. Market intelligence firm CryptoQuant reports that the percentage change and total balance of whale addresses holding between 1,000 and 10,000 BTC have both increased over the past 30 days. CryptoQuant's research director Julio Moreno pointed out that whales tend to buy Bitcoin more aggressively during bull markets and reduce purchases during bear markets. In March, whales increased their BTC holdings by over 9.8%, continued to accumulate in April, but slowed down to 4.2% by May 1. As of May 22, the accumulation rate for whales rebounded to 5.5%. Since the beginning of this year, the amount invested by whales in Bitcoin has risen from $57 billion to $122 billion. Glassnode's chief analyst James Check stated that the current market has not yet entered a true frenzy phase.