Bitcoin whales have embarked on an extraordinary accumulation spree, purchasing 358,000 BTC worth $23 billion in July, according to on-chain analytics platform CryptoQuant.
Long-term holders, defined as entities holding a given amount of BTC for 155 days or more, have largely refused to sell this year, regardless of short-term price trends. This steadfast behavior underscores the confidence among long-term holders in Bitcoin’s future value.
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