Past month sees Bitcoin hodlers scoop $23B

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Onchain activity suggests that Bitcoin whales have accumulated BTC over the past month amid a market slump.

Bitcoin “permanent holder addresses” have accumulated nearly $23 billion of the asset over the past month, according to onchain data.

In a post on X on Aug. 7, CryptoQuant founder and CEO Ki Young Ju exclaimed, “I’m pretty sure something is happening behind the scenes.”

The comment came in reference to a recent spike in 30-day demand change for permanent Bitcoin holders.

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