On-Chain Data Shows Bitcoin Whales Accumulated 11,000+ BTC During $60K Dip as Retail Sold
By
Sebastian Villafuerte
Summary
Bitcoin is struggling below $62,000 amid market fear and selling pressure, but on-chain analysis by analyst Woominkyu reveals a different story beneath the surface. While retail investors panicked and sold during the dip to $60K, large Bitcoin holders ("whales") aggressively accumulated, with over 11,000 BTC leaving exchanges. The data shows two distinct phases: first, older dormant wallets moved supply to exchanges on June 2-3 (triggering the decline), followed by whales absorbing the sell-off as retail capitulated.
Source
bskyOn-Chain Data Shows Bitcoin Whales Accumulated 11,000+ BTC During $60K Dip as Retail Soldnewsbtc.comKey quotes
· 3 pulledThe on-chain data tells a story in two distinct acts.
Bitcoin is struggling below $62,000 as selling pressure and fear continue to define the market environment.
The picture it paints looks considerably different from the panic narrative that dominated market commentary at the time.
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