The latest data from Santiment shows that, when the Bitcoin BTC/USD prices went down, BTC whales accumulated nearly $2 billion worth of the cryptocurrency.
The Bitcoin whales, who hold between 1,000 and 100,000 BTC each, have collectively accumulated 64,000 BTC worth $1,875,819,869 since April 11.
Crypto market analytics firm IntoTheBlock reported that crypto exchanges saw a significant uptick in Bitcoin deposits after there were fake rumors of addresses related to the defunct exchange Mt.Gox moving funds.
Last week, big Bitcoin holders reportedly made a flurry of transfers from their dormant wallets, some of which had been inactive for over a decade.
One such address transferred 6,071 Bitcoin after just over a nine-year period of inactivity, while two other whale addresses separately transferred more than 1,000 Bitcoin each. The total transfer summed up to $225 million.
At the time of writing, Bitcoin was trading at $29,615, nine percent up in the last seven days.
Now Read: Here's Why This Analyst Says A $10T Market Cap For Bitcoin Can Happen
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