Whales’ stablecoin buying power grew over 7% in 1 month

According to data from Santiment, stablecoin whales with wallet holdings of 10,000 to 10 million Tether (USDT) have accumulated over $1 billion in buying power in the past month. The data indicates the buying power of these whales increased by over 7% in just one month.

The significant accumulation of stablecoins by whales indicates they are waiting to buy BTC at a lower price, showing a bullish outlook for the market. The outflow of BTC from exchanges also supports this sentiment. Out of the past 26 weeks, 21 weeks have seen a higher flow of BTC supply away from exchanges than on to it.