$BTC During this week, the Bitcoin whales continued their accumulation process, although at a significantly slower pace.

Although accumulation by these large wallets usually has a bullish component, during times of low activity, it generally does not influence the price.

It is important to remember that whales have enormous significance for the broader cryptocurrency market.

This is due to the enormous portion of the market capitalization they occupy. Hence, coordinated movements of some of these addresses tend to affect the mood of retail investors and provoke price changes.

Whale movements can be classified into two fundamental types: accumulation and intent to sell. The former usually drive the price up and consist of transfers from exchanges to unknown wallets, generally cold wallets.

The latter, with a bearish component, are sent from unknown wallets to exchanges.

There are also transfers between unknown wallets and between exchange wallets. The former are usually wallet reorganizations or face-to-face sales between whales.

These sales usually do not affect the price as they do not increase market liquidity.

The other type of transaction between exchange wallets is usually associated with the trading strategy of arbitrage.

With this, traders benefit from the differential between prices on different platforms. These last two types of transfers do not have a significant impact on the price of $BTC