Bitcoin whales make a comeback: is the new BTC floor in?

Quick Take

  • At the end of March, CryptoSlate analyzed that whales were offloading Bitcoin while all other cohorts were accumulating.
  • On top of the accumulation from other cohorts, Shrimps have aggressively bought Bitcoin, a research piece covered by CryptoSlate.
  • However, for the first time since the end of 2022 beginning of 2023, whales have started to accumulate — albeit cautiously.
  • As we can see, whales buy value, aggressive buying in June 2022 and November 2022, both times capitulation occurred.
  • Since the SVB collapse back in mid-march, the aggregate trend has been the network has been in a state of accumulation.
  • Does this assume the bottom or value could be in the $30,000 range?
ATS by cohort: (Source: Glassnode)
ATS: (Source: Glassnode)
ATS: (Source: Glassnode)

The post Bitcoin whales make a comeback: is the new BTC floor in? appeared first on CryptoSlate.

Read Entire Article


Add a comment