Bitcoin's 30% recovery in two weeks has BTC whales back in accumulation mode
The number of Bitcoin addresses holding at least 1,000 BTC has risen in recent weeks. Bitcoin (BTC) addresses holding at least 1,000 BTC, the so-called whales, have started accumulating more tokens during the recent market recovery. As of Feb. 10, the total supply in these addresses was 8.096 million BTC versus 7.95 million on Jan. 24, according to data from Coin Metrics.Bitcoin whales and institutional inflowsThe buying sentiment among the richest crypto investors picked momentum during Bitcoin's recovery in the past two weeks as BTC rebounded from its 2022 low of $33,000 on Jan. 24 to....
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On-chain data shows the largest of the Bitcoin whales have returned to distribution, a sign that could be bearish for the asset’s price. Bitcoin Investors With More Than 10,000 BTC Are Selling Again As explained by analyst James V. Straten in a new post on X, the BTC whales, who had earlier been in a phase of accumulation, have switched their behavior to that of distribution now. The relevant indicator here is the “Trend Accumulation Score” from Glassnode, which keeps track of whether Bitcoin investors have been buying or selling during the past month. This metric finds....
Bitcoin whales are not slowing down on their accumulation tour despite rising prices. Bitcoin has now hit $62K for the first time in five months and the market has rejoiced over this milestone. With more growth expected in the coming weeks, investors are making sure that they do not miss out on what the digital asset has to offer in terms of value. BTC is now the de facto internet store of value, so investors are FOMO-ing into the asset. This has translated to a higher price for BTC. However, the majority holding is still skewed in favor of the whales. These addresses which hold 100 to....
Bitcoin has been consolidating in the mid-range of the $50,000 in the past weeks. The cryptocurrency went through a correction during the weekend and lost critical support at $47,000, only to be saved by whales. These investors took long positions when the market went on full-fear mode and profited. But now, price action is back […]
Even with the Cardano network hitting seeing good metrics over the last month, the ADA price has remained rather stale in its performance. However, this trend might soon change for the digital asset as multiple developments have emerged that could fast-track its recovery. Cardano Whales Go To Market It is no secret that Cardano whales have often doubled down on their positions even at times when the digital asset has suffered from the bear trends. This has not changed, especially with the most recent dip in the ADA price, which sent the whales into a buying frenzy instead of dumping their....