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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    SEC Chair Gary Gensler Standing in the Way of Bitcoin ETFs, Says ARK Invest’s Cathie Wood

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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  • Home
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    Somnia Launches Playground App to Empower Metaverse Creators

  • NFT
    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    $3.62B Already Sold in 2025

    $3.62B Already Sold in 2025

  • Gaming
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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

    GaFin Joins Cyber Crash to Advance Web3 Gaming

    GaFin Joins Cyber Crash to Advance Web3 Gaming

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    Buzzy Ethereum Game Football.fun Has Soccer Fans Scoring Crypto Gains

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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    Play Solana to ship handheld gaming device in October

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    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

    Avalanche Selects Funtico to Support Indie Game Developers

    Avalanche Selects Funtico to Support Indie Game Developers

    Google Boosts Gemini AI Image Capabilities in Latest Salvo Against ChatGPT

    Google Boosts Gemini AI Image Capabilities in Latest Salvo Against ChatGPT

    How Toyota Plans to Transform Vehicle Data and Ownership with Blockchain

    How Toyota Plans to Transform Vehicle Data and Ownership with Blockchain

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What is Crypto FOMO? How to Avoid Emotional Investing Mistakes

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    What Is Crypto Arbitrage and How to Use It in Trading?

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    What’s the Difference & Which Is Better to Trade?

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Bitcoin whales continue to accumulate despite price declines – Why?

December 16, 2023
in Altcoins
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How Chainlink’s price spike is affecting its supply
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Posted: December 17, 2023


  • Whales have accumulated over 22,000 BTCs in the past week.
  • BTC was trading at around 42,400, with a slight recovery. 

Bitcoin [BTC] whales have responded with a mixed sentiment to the recent price fluctuations. Despite a general increase in whale addresses, the latest exchange flow presents a contrasting narrative.

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Bitcoin whales continue accumulating

According to a recent IntoTheBlock post, Bitcoin whales accumulated over 22,000 BTC in the past week. The increased accumulation was despite the recent decline in BTC’s price.

However, a closer analysis of the whale accumulation showed a more nuanced picture. An analysis of the BTC supply distribution on Santiment showed fluctuations in addresses holding 1–10,000 BTC.

The change suggested sell-offs from these addresses at certain points during the week. 

Bitcoin supply distribution

Source: Santiment

On 14th December, the chart showed around 1,932 addresses, but at the time of this writing, that number had decreased to about 1,928.

Despite this slight decline, the overall supply held by these addresses has increased. Around 1,896 addresses were recorded at the same time as the previous month.

More Bitcoin hits exchanges despite accumulation

Based on an analysis of CryptoQuant’s Bitcoin exchange flow, there has been a recent uptick in inflow.

The chart showed a consistently positive exchange flow since 5th December, except for 14th December. This positive flow suggests an increased movement of BTC to various exchanges, signifying heightened selling activity.

This aligns with the observed fluctuation in accumulation patterns within whale addresses. 

Bitcoin Exchange Netflow

Source: CryptoQuant

The amplified inflow has contributed to the lack of impact on the price trend despite ongoing accumulation. At the time of this writing, the exchange netflow was around 805 BTC.

See also  Ondo Finance (ONDO) Explodes 122%

BTC sees a slight recovery

Analyzing the Bitcoin daily timeframe chart showed that there had been a more significant decline in value compared to gains over the past week.

On 15th December, the chart showed a decrease of over 2.5%, with BTC trading at around $41,450.

However, there has been a recent recovery attempt, and as of his writing, it was trading around $42,240, reflecting a modest increase of less than 1%. 

BTC/USD price trend

Source: TradingView

Also, despite a bearish flip observed in the Moving Average Convergence Divergence (MACD), the overall sentiment remained bullish.


 Read Bitcoin (BTC) Price prediction 2023-24


The Relative Strength Index (RSI) was slightly below 60, indicating a decrease in the bull trend, but the general trend remains bullish. 

Whale accumulation may be part of a long-term strategy, suggesting anticipation of a forthcoming price increase.

Tags: AccumulateBitcoinContinueDeclinesPricewhales

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CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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HIVE Digital shares rise as Bitcoin reserves grow 23% YoY

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Bitcoin Miners’ June Revenue Dips Slightly Below May

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As Polygon lures in more users, will it help MATIC cross $1

As Polygon lures in more users, will it help MATIC cross $1

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