Large holders of Bitcoin, known as “whales,” have resumed their active buying following a pause after the cryptocurrency’s record high in March. According to the analytical company CryptoQuant, there has been a significant increase in the 30-day percentage change of Bitcoin holdings in whale wallets, indicating a growing interest in accumulating Bitcoin at current prices.

In March, whales increased their BTC holdings by more than 9.8%. Although the accumulation continued into April, the growth rate slowed to 4.2% by May 1, coinciding with a significant market downturn when Bitcoin’s price dropped more than 20% to less than $57,000. However, after reaching the market bottom, the accumulation rate again rose to 5.5% by May 22, signaling renewed interest from the whales.

The return of whales to active buying indicates that they see current prices as favorable for purchase and accumulation. Whales are defined as owners of Bitcoin addresses holding between 1,000 and 10,000 BTC, excluding mining companies and cryptocurrency exchanges, who increase their buying activity during bull markets and decrease it during bear markets.