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Bitcoin Stays Down, But Whale Wallets Quietly Climb to 4-Month High

  • Bitcoin whales, referring to investors with holdings of 1,000 to 10,000 coins, have seen notable growth in the past five weeks.
  • On-chain data from Santiment shows that the number of whale-sized Bitcoin wallets has reached its highest level since December 2020.
  • The growth in whale entities suggests that big-money investors view the recent price levels as potential profitable entry points into Bitcoin.
  • The buying activity from whales during a period of Bitcoin's price stagnation indicates a sign of confidence in the market.

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