Are Bitcoin whales 'back'?
One of the more concerning trends over the past 45 days has been the ongoing decline in the combined holdings of large BTC holders:
Between Bitcoin's price ATH on April 14th and its latest bottom on May 23rd, the total balance of 100-10,000 BTC addresses has shrunk by roughly 130,000 BTC, suggesting waning confidence in the top coin.
SINCE then, however, the downtrend has (finally) been broken. In the past 10 days, the combined total of Bitcoin's 'whale' addresses has grown by 50,000 BTC, or ~$1.95bn at the time of writing.
Is whale accumulation 'back'? It's still too early to say, but i'd keep a very close eye on this chart in days to come. Detailed report on all things BTC coming tomorrow!
Thanks for reading!
If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!
Never miss a post from Ibis!
Get 'early bird' alerts for new insights from this author