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Bitcoin whales resume accumulation following brief respite
As macro doubts hover, distribution becomes norm for all but Bitcoin whales
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Quick Take
- The accumulation trend score shows the behavior of all cohorts that are either accumulating or distributing Bitcoin.
- Bitcoin whales with 10,000 BTC or more have accumulated Bitcoin for the better part since April 2023, while Bitcoin has been under $30,000.
- In the past week, whales who hold 10,000 BTC or more had taken a back seat from accumulating but are now back in the groove denoted by the dark blue.
- However, all other cohorts are in a continuous distribution state, which may coincide with increasing macro uncertainty.
- The lack of accumulation by those outside the Whale cohort is a concerning feature.
