April 21, 2021

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

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.

Watching the change in the balance of wallets fromwith reserves of more than 1,000 BTC, the company's analysts noted a trend towards the accumulation of cryptocurrency throughout January, for which they purchased 80,000 BTC. However, since February 5, it has changed dramatically, as whales began to actively take profits, selling 140 thousand bitcoins over the past 3 weeks.

At the same time, Glassnode notes that while large players were dumping their reserves into the market, investors with a balance of 100 up 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 downturnwas initiated by one of the whales, which on Monday was supported by other large "fish". The collapse stopped after the head of the US Federal Reserve, Jerome Powell, announced that the stimulation of the economy would not be stopped soon, which stimulated a decline in government bond yields. Around this time, several companies also reported major 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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