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Data Suggests Bitcoin Whales Accumulating While Smaller Holders Reduce Selling
Summary: Data from Glassnode indicates that large Bitcoin holders, often referred to as "whales" (entities holding over 10,000 BTC), are continuing to buy significant amounts of the cryptocurrency, signaling a strong accumulation trend. Concurrently, smaller Bitcoin holders, ranging from less than one BTC to 100 BTC, have decreased their selling activity. Notably, those holding between 10 ...
Data from Glassnode indicates that large Bitcoin holders, often referred to as "whales" (entities holding over 10,000 BTC), are continuing to buy significant amounts of the cryptocurrency, signaling a strong accumulation trend.
Concurrently, smaller Bitcoin holders, ranging from less than one BTC to 100 BTC, have decreased their selling activity. Notably, those holding between 10 and 100 BTC may be shifting towards buying, suggesting a potential change in market sentiment among mid-sized holders.
This trend contrasts with observations regarding retail investor behavior. According to analyst @ali_charts, a typical sign of a Bitcoin market top – a surge in retail trading activity – has been absent during the recent price increase from $70,000 to $110,000. The analyst notes that this lack of retail frenzy mirrors the market structure seen at the end of the 2021 bull run.
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Link: Data Suggests Bitcoin Whales Accumulating While Smaller Holders Reduce Selling [Copy]
