During the market downturn, the Bitcoin whale increased its holdings by 71,000 BTC. According to IntoTheBlock data, on July 5th, when the price of Bitcoin dropped to $54,200, the Bitcoin whale address added 71,000 BTC, worth approximately $43 billion. CryptoQuant data shows that since several local banks in the United States collapsed in April 2023, the Bitcoin whale has been accumulating Bitcoin at the fastest rate. CryptoQuant analyst Minkyu Woo suggests that this may indicate that Bitcoin is nearing its bottom.

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According to IntoTheBlock data, Bitcoin whale addresses increased their holdings by 71 thousand BTC when the coin price dropped to $54,200 on July 5, worth approximately $4.30 billion. Additionally, CryptoQuant data shows that since several local banks in the United States collapsed in April 2023, Bitcoin whales are currently accumulating Bitcoin at the fastest rate (calculated by a 30-day MA). CryptoQuant analyst Minkyu Woo added, "This indicates that Bitcoin may be nearing its bottom." (Cointelegraph)

The Bitcoin whale increased its holdings by 71 thousand BTC during the market downturn.