Bitcoin whales enter deep accumulation for the first time since January

Quick Take

  • Last week, CryptoSlate analyzed the fact Bitcoin whales have started to enter the fray of accumulating Bitcoin.
  • However, whales with over 10,000 Bitcoin have started aggressively accumulating for the first time since January, denoted by dark blue.
  • While all other cohorts have exhausted their accumulation, and some are even seeing distribution.
  • Large entities’ activity has been at its highest level for almost a year to support further whale activity —which looks at transaction volume.
  • Whales are considered the smart money of the ecosystem and are aggressively buying Bitcoin below $30,000.
Accumulation Trend Score by Cohort: (Source: Glassnode)
Accumulation Trend Score by Cohort: (Source: Glassnode)
Large Entities: (Source: Glassnode)
Large Entities: (Source: Glassnode)

The post Bitcoin whales enter deep accumulation for the first time since January appeared first on CryptoSlate.

Source: https://cryptoslate.com/insights/bitcoin-whales-enter-deep-accumulation-for-the-first-time-since-january/