Bitcoin's Pump to $70K Seemingly Has Been Propelled By Whale Accumulation

🐳📈 #Bitcoin has just caught traders off guard (as usual) with a huge rebound ascension to $70K. Why? Key #Bitcoin stakeholders had one of their single largest accumulation days in years.

🔼51,959 collective #Bitcoin were accumulated by wallets that hold between 10-10K $BTC on Sunday alone. This translates to 0.263% of the entire currently available supply being accumulated in one day.

As we close in on the final three weeks of the #halving on April 19th, it would be unsurprising to see these wallets continue to grow, resulting in a positive impact on #crypto-wide market caps.

Ideally, this continued accumulation would not be coming entirely at the expense of whale and shark $USDT and $USDC holdings. Their #drypowder, as it is often referenced, is a key component to continuously have the ability to swap for more #cryptocurrency at any given time.

Link to chart.

Track these key wallet tiers in real-time, along with all of the other top Santiment indicators with a free trial to Sanbase PRO here.