The current lack of significant movement in the price of BTC aligns with a notable decline in the number of transfers from personal wallets to exchanges. This trend implies that major holders, commonly referred to as whales, are in the process of accumulating Bitcoin. From April 18 to May 31, there was a substantial decrease in the amount of wallets sending Bitcoin to exchanges, plummeting from 70,999 to 32,450. This shift suggests that whales are actively acquiring and retaining their BTC, potentially limiting the amount of circulating supply for trading and leading to a decrease in market volatility.
