Bitcoin Whales Accumulated BTCs During Market Crash

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Bitcoin experienced a turbulent weekend, with prices falling to $49,000 on Monday after a rollercoaster of ups and downs.

Despite this, there were diverse reactions from BTC investors, with larger asset holders taking advantage of the lower prices to make purchases while smaller investors sold in a state of panic.

Data from blockchain analysis firm IntoTheBlock showed that wallets holding between 1,000 and 10,000 BTC (worth between $56 million and $560 million at current prices) remained confident during the dip, continuously increasing their holdings as prices dropped.

On the other hand, wallets with less than 1 BTC showed weaker hands, with a significant decrease in holdings during the market downturn.