Bitcoin Whales Accumulate $63 Billion in a Three-Month Surge, Tightening Supply

Recent data reveals a substantial increase in Bitcoin whale activity, with new wallet holders accumulating over 600,000 BTC worth roughly $63 billion within the past three months. This surge is driving up market demand and potentially influencing price movements as these concentrated holdings now account for 5.6% of circulating Bitcoin supply. On-chain analytics firm CryptoQuant highlights that this buying spree coincides with steady Bitcoin price increases throughout the period, suggesting strategic positioning by these whales in anticipation of significant market shifts.