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Bitcoin whale growth is macro bullish, but will it be enough to stop another massive selloff? Bitcoin whale growth is macro bullish, but will it be enough to stop another massive selloff?

Bitcoin whale growth is macro bullish, but will it be enough to stop another massive selloff?

with insights from Glassnode

Data suggests that large buyers – sometimes referred to as “smart money” – have been in full Bitcoin accumulation mode over the past couple of months, with the number of proverbial “whales” hitting multi-year highs just in the past week.

Bitcoin whale growth is macro bullish, but will it be enough to stop another massive selloff?

Cover art/illustration via CryptoSlate

Data suggests that large buyers – sometimes referred to as “smart money” – have been in full Bitcoin accumulation mode over the past couple of months, with the number of proverbial “whales” hitting multi-year highs just in the past week.

From a macro perspective, this data metric is offering significant hope to investors, as it signals that one of the benchmark cryptocurrency’s most important investor groups is optimistic that the crypto will eventually see an upside.

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