Bitcoin whales have accumulated 9.11 million BTC, which is 48.7% of the total cryptocurrency supply. About it reported in Santiment with reference to on-chain network analysis.
Source: santiment.net
According to published data, in the last 25 days alone, whales have increased their Bitcoin reserves by 90,000 BTC. At the current exchange rate, this volume is ~ $ 3.6 billion. The last time such a concentration of bitcoin on whale wallets was noticed at the end of April. At the same time, the price of bitcoin was ~ $ 49,000.
Thus, at the time of this writing, the whales control ~ $ 364 billion. However, it remains unknown whether cryptocurrency wallets participate in the sample. However, it is known that the flow of cryptocurrency to exchanges continues to fall. So, the number of incoming bitcoin transactions on centralized exchanges has recently fallen to the values of 2019.
Source: santiment.net
However, the supply of bitcoin on exchanges is still higher than in December 2020 and significantly higher than the levels of May 2019. Then there were ~ 2 million BTC on the exchanges, now – 2.58 million BTC. In addition, negative sentiment for Bitcoin seems to have stopped growing as well.
Source: santiment.net
The market is still skeptical, however, Bitcoin’s recent rise to $ 40,000 has reduced the fluctuation in amplitude.
Recall that long-term bitcoin investors did not begin to unload their reserves despite the recovery of the bitcoin price above the $ 40,000 mark. It turned out that those who bought bitcoin at the end of 2020 are in no hurry to get rid of the cryptocurrency.
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