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Bitcoin whales enter deep accumulation for the first time since January
The Bitcoin (BTC) Accumulation Trend score by cohort is flashing deep blue for the first time since January.
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
- 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.
