Bitcoin enters ‘new era’ as whales scoop up over 47K BTC during price pullback

Bitcoin whales have added over $2.9 billion worth of BTC, which helped it recover above the $60,000 mark, but can Bitcoin price close the week above $60,000?

Following the post-halving price dip, Bitcoin whales have started accumulating Bitcoin (BTC) once again. Can whales push Bitcoin’s weekly close above $60,000?

Bitcoin whales, which are large wallets holding at least 100 BTC, have accumulated over 47,000 BTC, worth over $2.9 billion at current prices, noted CryptoQuant founder and CEO Ki Young Ju in a May 3 X post:

The chart excludes wallets related to centralized exchanges and mining firms. While the metric includes spot Bitcoin exchange-traded funds (ETFs), they are not the reason behind the uptick, according to the CryptoQuant founder:

Read more