As Bitcoin briefly surpassed the $28,000 mark, whales and long-term holders quickly accumulated during the weekend volatility. However, an unexpected trend in the sell-side risk ratio raises a critical question: what does this mean for Bitcoin's future and how will it impact the market's stability?
Bitcoin touches $28,000 as whales, long-term holders ramp up accumulation Bitcoin touches $28,000 as whales, long-term holders ramp up accumulation
Whales and long-term holders were unfazed by Bitcoin's weekend volatility, ramping up the accumulation they started in the second half of May.
2 min read
Updated: May. 29, 2023 at 5:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.