Bitcoin uptrend not over: Big whales aren't selling BTC, data shows
Big whales aren't selling, but accumulating Bitcoin, as the price of BTC consolidates under $60,000. The price of Bitcoin (BTC) is consolidating between the $55,000 to $59,000 range, establishing the mid-$50,000 region as a support area. This trend coincides with strengthening on-chain fundamentals, such as whale and address activity.Since the Bitcoin rally began to accelerate in November 2020, the seven-day average active address has increased in tandem. A pseudonymous trader known as "Crypto Birb" pointed out:"$BTC seven day average over daily active addresses in sideways while price....
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Various on-chain data shows that Bitcoin whales are holding onto their funds and have little interest in selling in the short term. The price of Bitcoin (BTC) is experiencing a volatile time. After achieving $14,100 for the first time since 2017, a sharp pullback followed. Yet, key on-chain data and whale clusters show that high-net-worth individual investors are holding onto their positions.This trend shows that whales are not expecting a major pullback in the near term. A low level of activity from whales is a positive metric following a large uptrend. It shows that whales are not....
On-chain data shows the Bitcoin exchange whale ratio has been going up recently, something that may be bearish for the price of the crypto. Bitcoin Exchange Whale Ratio Has Been Going Up In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the current BTC whale ratio value suggests whales are still selling large amounts. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflows. In simpler terms, what this metric tells is how much of the total inflows to....
As earlier reported, Bitcoin holders have steadily held on to their coins in the past few months. Bitcoin whales, in particular, seem to be doubling despite the current uncertainty in Bitcoin’s future projection. Long-term holders add an average of 50,000 BTC to their wallets every month, as indicated by the HODLer Net Position Change indicator provided by Glassnode. Related Reading: Crypto Analyst: Bitcoin To Surpass Gold And Silver Within A Decade On the other hand, whales of Ethereum, the second largest crypto in the world, appear to be on a different trajectory. On-chain data....
On-chain data shows whale ratio has exceeded the 0.50 mark, historically a sign that whales are dumping in the short term. Bitcoin Whales Have Started Selling Their Coins As pointed out by a CryptoQuant post, the Bitcoin whale ratio has started going up above the 0.50 level. This signal has usually meant a bearish outlook for the crypto in the short term. The BTC all exchanges whale ratio is an indicator that gives an estimation of how many whales are sending their coins to exchanges. The metric does so by taking the sum of the top 10 transactions to each exchange and dividing it with the....
On-chain data shows Bitcoin inflows are trending up, a sign that whales might be increasing their dumping. This could prove to be bearish for the coin. Bitcoin Inflows Move Up As Whales Continue To Sell As pointed out by a CryptoQuant post, on-chain data highlights that BTC inflows to exchanges have been going up. The “all exchanges inflow” is an indicator that shows the amount of Bitcoin that holders are depositing to exchanges on a given day. When the value of this metric moves up, it means more investors are sending their coins to exchanges. Holders usually deposit their BTC....