On-chain data shows the Bitcoin whales have continued to hold onto their coins despite the fact that BTC has gone through bearish action recently.
Bitcoin Whales Have Participated In Net Accumulation Since March 1st
As explained by the on-chain analytics firm Santiment in a post on X, the large BTC holders in the market haven’t been shaken by the recent downturn in the price.
The indicator of interest here is the “Supply Distribution,” which tells us about the total amount of Bitcoin that the various wallet groups in the sector are holding right now.
Addresses are divided into these wallet groups based on the number of coins they currently carry in their balance. The 1-10 coins cohort, for instance, includes all addresses or investors who own at least 1 and at most 10 BTC.
In the context of the current discussion, three cohorts are of relevance: the 100-1,000 BTC, 1,000-10,000 BTC, and 10,000-100,000 BTC. The first of these correlates to the “sharks.”
The sharks
We współpracy z: https://bitcoinist.com/bitcoin-whales-strong-despite-bearish-price-action/
