Bitcoin whales are accumulating BTC around $48K, on-chain data suggests

Bitcoin whales are accumulating BTC around $48K, on-chain data suggests

Big Coinbase outflows show that some big players are scooping up Bitcoin on dips below $50,000. Whales are continuing to accumulate Bitcoin (BTC) despite the price more than doubling so far in 2021, according to the latest data from CryptoQuant.This trend indicates that the confidence in Bitcoin is strengthening as the price is now attempting to stabilize above the $50,000 level.Why whale confidence is importantDuring bull cycles, whales can take profit on their positions, especially if the futures market is highly overcrowded.Whales selling their holdings to rebalance their portfolios can....


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