Whale wallets ramp up Bitcoin buying as price hovers around $71K, according to on-chain data published by Santiment.
Summary
- Bitcoin whales resumed accumulation after two weeks of selling.
- BTC gained 2.4% while the S&P 500 fell 2.2% over five weeks.
- Long-term holder MVRV at -25% signals potential accumulation zone.
Wallets holding between 10 and 10,000 BTC reversed course from active selling to net accumulation roughly two weeks ago.
The reversal comes as Bitcoin holds gains against a weakening S&P 500. Over the past five weeks, the S&P 500 fell approximately 2.2%, while Bitcoin gained 2.4%.
Gold rose 3.7% over the same period. Santiment analysts attribute the…
