Bitcoin whales leaked 140 thousand BTC to the market in the last 3 weeks

According to the crypto data aggregator Glassnode, since February 5, the whales have sold 140,000 bitcoins, earning about $ 6.72 billion.

Observing the change in the balance of wallets with reserves of more than 1 thousand.BTC, the company's analysts noted a trend towards the accumulation of cryptocurrency throughout January, for which they purchased 80 thousand.However, from February 5, it changed dramatically, as whales began to actively take profits, selling 140 thousand in the last 3 weeks.bitcoins.

At the same time, Glassnode notes that while major players were dumping their reserves on the market, investors with a balance of100up to 1000 BTC, on the contrary, were more inclined to buy. During this period, they purchased 117 thousand coins for $ 5.61 billion.

Holders of 10-100 BTC wallets have been actively selling their stocks since November 2020. In 3.5 months, they got rid of 128 thousand coins, earning $ 6.14 billion.

Analysts are inclined to believe that the recent declinewas initiated by one of the whales, which was supported by other large “fish” on Monday. The collapse stopped after US Federal Reserve Chairman Jerome Powell announced that economic stimulation would not be stopped soon, which stimulated a decline in government bond yields. Around this time, several companies also reported large Bitcoin acquisitions.

At press time, BTC is trading at $ 50,923 with a 6.58% daily gain. Investors are attracted by the increased level of recognition of the cryptocurrency, which contributes to the growth of capitalization.

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