Retail Investors Rush To Buy Bitcoin As Whales Offload – What This Means For BTC
Recent on-chain data from Glassnode reveals that retail investors, defined as addresses holding 1 BTC or less, have significantly ramped up their Bitcoin purchases in the past two months. Although this interesting trend among retail traders is very bullish for the leading cryptocurrency, it has been contrasted by a deviating trend among whale addresses, who […]
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Larger investors, or whales look to have reacted differently than retail investors amid this week's bitcoin price drop.
On-chain analysis shows that retail buying is accelerating while whale supply is declining.
Data from OKEx gives one explanation of how bitcoin whales were able to influence the market during the rallies.
The Google Trends interest is relatively low for the keyword “Bitcoin” while on-chain data shows smart money is accumulating BTC. Bitcoin (BTC) is continuing to show strong momentum even after a major rally. Key data points show that the uptrend has likely been fueled by smart money in recent months. This means retail or mainstream investors have been largely on the sidelines as BTC price surpassed $15,000 this month.In 2017, when the price of Bitcoin hit an all-time high at $20,000, the retail demand was at its peak. Google Trends data soared, mainstream media coverage noticeably....
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