Bitcoin Whales Accumulated 60,000 BTC During August Rally, CryptoQuant Data Shows

BitcoinWorld Bitcoin Whales Accumulated 60,000 BTC During August Rally, CryptoQuant Data Shows Bitcoin’s August price rally saw a notable divergence in behavior between large and small holders, with wallets holding at least 100 BTC adding significantly to their positions while smaller investors reduced theirs, according to on-chain data from CryptoQuant.

In an analysis published on Aug. 30, CryptoQuant contributor Woo Minkyu reported that large holders, often referred to as whales, added approximately 60,000 BTC between Aug. 1 and Aug. 30.

During the same period, wallets holding between one and 100 BTC reduced their holdings by roughly 33,000 BTC, and wallets with less than one BTC cut their positions by about 14,000 BTC.

Whale Buying Accelerated After Key Breakout Woo noted that whale accumulation intensified after Bitcoin broke out of its $62,000–$65,000 trading range on Aug. 19. The price then climbed toward $80,000 before pulling back slightly.