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CryptoQuant Analyst: Bitcoin Whales Not Buying in Large Quantities, Actual Whale Balances Decreasing
Summary: According to CryptoQuant analyst Julio Moreno, Bitcoin whales are not buying large amounts of Bitcoin. Most whale data is currently influenced by exchanges, which consolidate large amounts of Bitcoin into a few addresses with larger balances, making it appear as though whales have been accumulating Bitcoin. However, data from CryptoQuant excluding all exchange addresses shows ...
According to CryptoQuant analyst Julio Moreno, Bitcoin whales are not buying large amounts of Bitcoin. Most whale data is currently influenced by exchanges, which consolidate large amounts of Bitcoin into a few addresses with larger balances, making it appear as though whales have been accumulating Bitcoin. However, data from CryptoQuant excluding all exchange addresses shows that whale balances are actually decreasing (Chart 1). Addresses holding 100-1000 Bitcoins are also showing a similar trend, with these addresses mainly holding ETFs (Chart 2).
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Link: CryptoQuant Analyst: Bitcoin Whales Not Buying in Large Quantities, Actual Whale Balances Decreasing [Copy]
