Big Support from Whales to Bitcoin (BTC)! Accumulation is Increasing!

The price of Bitcoin (BTC) failed to cross the $31,000-30,000 threshold last month. With its high prices and profitable addresses, many investors believe that Bitcoin (BTC) will not be able to exceed these levels in the near term.
Despite BTC movements, whales and sharks remained optimistic. According to data from Santiment, Bitcoin's leading investors and large-scale holders continue to demonstrate sustained activity, unaffected by the relatively stagnant price range of $30,000 to $31,000. Since June 17, 71,000 additional BTC worth $2.15 billion has been accumulated at 10,000 BTC addresses.
As a result of the accumulation, there was a significant increase in the number of addresses with more than 1 Bitcoin. According to Glassnode data, the number of addresses holding 1+ BTC recently reached an all-time high of 1,008,517.
In addition, it is stated that a significant portion of the addresses are inactive without participating in any Bitcoin transfer or showing any signs of activity. This observation is presented from data provided by Glassnode. It revealed that the Last Active 2-3 Year Supply Quantity (1-day MA) recently reached an all-time high of 3,032,163,240 BTC.
This indicated that many of the Bitcoin accumulating addresses were planning to HODL and store their BTC instead of selling it. Also amid these findings, a bearish trend in investor sentiment became evident. Recently, there has been a noticeable increase in the purchase rate for Bitcoin. This situation shows an increasing preference among analysts for options contracts that profit from downward price movements. This shift in sentiment may indicate increased caution and anticipation of potential price declines. The increase in bear sentiment can be attributed to the observed volatility in Bitcoin options. This increase may indicate a higher degree of market uncertainty and risk perception among analysts and investors.
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