Understanding the Bitcoin Surge: Why Whales Bought 122K BTC in Just Six Weeks
Unraveling the Pattern of Divergence: Why Top Bitcoin Holders Are Driving the Market Upsurge
Key Points
- Whale wallets have accumulated over 122,000 Bitcoin in the past six weeks, indicating increased institutional confidence.
- Retail investors remain cautious at the $107K level, while whales anticipate a potential breakout.
In a significant change under the market’s surface, whale wallets that hold between 100 and 1,000 Bitcoin (BTC) have acquired over 122,000 Bitcoin within a span of six weeks.
This action demonstrates a growing confidence among investors with deep pockets.
Whales vs. Retail Investors
The creation of 337 new wallets in this category signifies a rising bullish divergence from retail investor behavior, especially as Bitcoin prices hover around the $107K mark.
While smaller investors seem wary, the biggest believers in Bitcoin are doubling their investments.
The Return of Whales
While retail investors wait, the smart money is building up.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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