Bitcoin Whales Make Massive Accumulation In The Last Month, Will This Influence A Price Surge? #CriptoNews

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Speculations about a bear market have grown sharply within the community following Bitcoin‘s persistent struggles with bearish conditions and the entire crypto market cap dropping by more than 20% in the last few months. Volatility may be increasing, but major investors are still confident about BTC’s prospects as they scoop up more coins.

Whales Investors Load Up On Bitcoin In Big Chunks

In recent weeks, Bitcoin has faced solid downward movements, with the potential of dropping even further. Retail investors demonstrated fear and uncertainty during the broader market’s waning performance, causing them to offload their holdings.

However, BTC’s large investorscommonly known as whales, have upheld a bullish sentiment, accumulating the flagship asset at a rapid rate in these uncertain times. A market expert and investor with the nickname Caueconomy reported the positive trend in a recent quick take research on the leading on-chain data and analytics platform, CryptoQuant.

Specifically, these whales have been purchasing Bitcoin in the past 1 month, suggesting strong confidence in its long-term potential. During the period, the large investors accumulated more than 65,000 BTC despite the continued correction in price.

This positive trend indicates high buying pressure among these investors, creating a bullish atmosphere for the flagship asset. Even though the development does not imply immediate effects on price in the short term, it shows absorption by major players, excluding miners and crypto exchanges.

If it persists for a few more weeks, the expert noted the pattern will signal constant purchasing power, much like what was seen from November to December last year. In comparison to brief periods of accumulation followed by distributions, this ongoing movement among big investors is more crucial.

In the meantime, the continued accumulation by whales might serve as a bullish precursor, setting the stage for the next major Bitcoin move. Given the current price fluctuations, it seems whales are taking advantage of BTC’s drop as the digital asset struggles around the $80,000 level.

New BTC Investors Are Dumping Their Holdings

While big investors are demonstrating an encouraging trend, a bearish trend has been spotted among recent BTC buyers. Leading on-chain and financial platform Glassnode reported that Bitcoin’s persistent sell pressure mainly centered around these cohorts.

This wave of selling is putting downward pressure on Bitcoin’s pricepreventing a sustained breakout in the short term. Furthermore, heightened volatility, weak demand, and liquidity constraints have made it impossible to resume significant accumulation, which has increased the possibility of a decline.

Thus far, Bitcoin’s Short-Term Holder SOPR metric reveals that panic-driven selling has intensified. The metric has plummeted well below the break-even level of 1, indicating recent buyers‘ fear and understanding of their loss.

Featured image from Unsplash, chart from Tradingview.com

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