Santiment found that wallets holding between 10 and 1,000 BTC “rapidly accumulated” as Bitcoin fell under $50,000 amid “Crypto Black Monday.”
Bitcoin whale transactions hit their highest levels since April during an outsized crypto market rout on Aug. 5 and 6, according to onchain data.
In a post on X on Aug. 8, on-chain analytics platform Santiment revealed wallets with total holdings between 10 and 1,000 BTC “rapidly accumulated on the price dip that saw crypto’s top asset fall below $50,000.”
According to Santiment, there were 28,319 BTC transactions worth more than $100,000 and 5,738 transactions worth more than $1 million on the two dates as crypto prices tanked.
