This aggressive buying by retail investors marks a stark contrast to their behavior in November where they opted to take profits as Bitcoin soared past $100,000. However, their renewed accumulation despite Bitcoin’s woes since December suggests a strong confidence in the asset’s long-term profitability. On the other end, Bitcoin whales i.e.investors holding over 1000 BTC, are offloading their assets at a rather unprecedented rate. Since November 24, these large investors have been moving Bitcoin to exchanges at an alarming average rate of 32,509 per day, suggesting a potential 9x increase in selling pressure compared to BTC’s yearly average.
Bitcoin Retail Investors Stacking 10,627 BTC Daily In a new X post, Glassnode dived into the recent activity of Bitcoin holders stating that retail investors i.e.address holding ≤1 BTC, are presently on an accumulation spree stretching to mid-December.
Generally, a large sell-off by market whales is a bearish signal indicating uncertainty about an asset’s future price. However, the Bitcoin community remains bullish as a significant portion of the offload by the market whales can be attributed to profit-taking rather than loss of confidence.
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