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Bitcoin whales make a comeback: is the new BTC floor in?
According to Glassnode data, whales have began to dive back into Bitcoin: top investors begin acquiring more coins.
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
- 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?
