Data: Bitcoin whales increased their holdings by approximately 43,000 bitcoins over 60 days, worth $2.75 billion, ending months of selling

According to Bitcoin.com, on-chain data analysis platform CryptoQuant shows that in the past 60 days, large Bitcoin holders have increased their holdings by approximately 43,000 Bitcoins, worth about $2.75 billion. This group excludes exchange and mining pool wallets, and this increase ends a months-long period of net selling.

After Bitcoin dropped to around $60,000, large holders resumed buying; subsequently, Bitcoin rebounded to around $65,000, trading mainly in the $62,000 to $65,000 range in recent weeks. During the same period, the balance of "dolphin" holders defined by CryptoQuant also increased, indicating that the accumulation is not only coming from the largest wallets. In August, spot trading volume fell to the lowest monthly level since August 2021.