Bitcoin
Whales, investors already holding over 10,000 BTC, buy more of the biggest cryptocurrency in a sign of confidence in additional upside, even when the price sits only a few percent below its constantly high about $ 112,000.
The whales have been switched to aggressive accumulation mode in the last few days, as well as wallets holding 1,000 to 10,000 BTC. However, smaller holders appear to reduce their exposure, according to Glassnode’s trendak cumulation score.
Whales are often considered the “smart money” because they have so much at stake. The smaller investors range from SUB-1 BTC drawing books to those who hold between 10 and 100 BTC and have mostly sold or distributed their inventory in the last few months.
The contrast that comes as the Bitcoin price sits around $ 109,000 potentially signalizes a transfer of coins from retail to institutional or high network investors. The accumulation trend score confirms that a strong buying interest began to build shortly after Bitcoin hit a local low near $ 76,000 in mid -April.
It is further evidence that the accumulation of the whales near record price levels can be a bullish signal and may be placed for future growth.
