Crypto whales accumulate bitcoins during the BTC price consolidation period.

In the last month, the price of BTC has hardly changed, hovering around the mark of $106,500. During this time, according to Santiment, the number of Bitcoin wallets containing 10 BTC or more reached a 3.5-month high.

As of June 27, the category of "whales and sharks" includes 152,280 wallets, each holding more than $1 million in BTC. This is the highest figure since March 12, despite the sideways movement of the main cryptocurrency.

As the markets were unstable, smart money accumulated in most cycles of retail investors' panic selling, analysts at Santiment noted.

The situation in which large holders accumulate coins while small investors get rid of them is typical and very indicative. If retail investors get tired during consolidation phases, organizations and players with large capital view such periods as an opportunity for accumulation.

Over the past year, Bitcoin has risen by more than 70%, but has slightly declined this month. This is exactly the type of lull when professionals calmly build up their positions, anticipating the next major surge.

Indeed, statistics show that increases in the balances of Bitcoin whale wallets have preceded significant price changes of BTC. In any case, the confidence of major holders is high, as evidenced by the inflow of funds into ETFs.