Bitcoin whales use falling market as opportunity to ”buy the bottom”...Accumulations surge in two days

Bitcoin whales have been seen using the recent decline in the market as an opportunity to buy at the bottom. On the 8th (local time), on-chain analysis company Santiment reported that X(
In a post on Twitter (formerly Twitter), the company revealed that "the 5th and 6th saw the highest levels of Bitcoin whale trading since the first week of April."
According to the post, the whale has fallen below $50,000 in response to the market decline over the last few days.
Santiment said, "Wallets with 10-1,000 BTC were rapidly accumulating when Bitcoin prices fell below $50,000.
"Large-scale Bitcoin investors have been active over the past four months, accumulating assets at low prices," Santiment said. Overall, this is a positive.
The continued accumulation among investors signals bullish sentiment. Additional data from on-chain analytics firm CryptoQuant shows that Bitcoin balances on exchanges are at their highest.
The total amount of Bitcoin in the last 90 days fell 10.9% to a five-year low of 2.68 million. The decline in Bitcoin balances on exchanges is likely due to investors withdrawing tokens into self-custodial wallets.
This means that they are not interested in selling in anticipation of a future price rise.