Bitcoin accumulation accelerates between ‘whales’ and ‘fish’ as BTC recovers to $ 40K
Both small and rich (BTC) traders amassed the benchmark cryptocurrency in droves during the period when its prices rose from under $ 30,000 to over $ 40,000, indicating their confidence in the asset’s long-term bullish setup.
The basis for the upside outlook came from Ecoinometrics, a crypto-focused newsletter service. He stood out in his last edition an on-chain data flurry that tracked the flow of Bitcoin into wallets that belonged to the wealthiest cryptocurrency traders, known as “whales,” and to entities that held the cryptocurrency in smaller amounts: so-called “minnows.”
Bitcoin accumulation trends. Source: Coin Metrics Bitcoin accumulation trends in the last 12 months. Source: Coin Metrics Bitcoin inflows to whale wallets on the rise. Source: WhaleMap US inflation has skyrocketed more than the Federal Reserve anticipated. Source: Bureau of Economic Analysis and Bureau of Labor Statistics
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