Bitcoin
Investors who already hold more than 10,000 BTC are buying more of the largest cryptocurrencies, which shows that the price is confident, even if the price is slightly below its all-time high of around $112,000, is a few percent lower.
In the past few days, whales have turned into an aggressive accumulation model with wallets holding between 1,000 and 10,000 BTC. However, based on the trend accumulating scores for GlassNode, smaller holders appear to be reducing their exposure.
Whales are often considered “smart money” because they endanger a lot. Smaller investors range from under 1 BTC wallet to investors holding between 10 and 100 BTC and have been primarily selling or distributing their holdings in the past few months.
The comparison is due to the possibility that Bitcoin prices are around $109,000, which may issue transfers from retail to institutional or high net worth investors. The cumulative trend score confirmed that strong buying interest began to build soon after Bitcoin hit a local low of $76,000 in mid-April.
This is further evidence that whales’ accumulation at record price levels may be bullish signals that they may position for future growth.
