On-chain data shows that the largest number of investors in the Bitcoin market are finally buying, which could be bullish for the asset’s value.
Bitcoin Mega Whales Have Shown Net Inflows In The Past Day
In the past few weeks, the Bitcoin price has struggled to mount any significant bullish momentum as it has been stuck consolidating inside a range.
Earlier, while this was happening, the largest holders in the space had been sitting quietly, not buying or selling anything notable. According to data from the market intelligence platform IntoTheBlock, however, this appears to have changed in the past day.
Relevant holders here are the “Large Holders,” who, as defined by the analytics firm, are investors carrying at least 0.1% of the entire circulating Bitcoin supply in their wallets.
A little under 19.7 million tokens are circulating for the cryptocurrency, 0.1% of which would be 19,700 BTC. This amount is worth more than $1.26 billion at the current exchange rate of B
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