Data: Whales holding over 1,000 BTC continue to buy, while retail investors have been selling for a month
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Analyst James Van Straten cited Glassnode data, pointing out that during the sharp drop in bitcoin prices, whales holding more than 10,000 bitcoins were the only group still buying, while all other groups with different holdings were selling. The data shows that whales are in a mild accumulation phase, and since bitcoin fell to $80,000 at the end of last November, their holdings have remained neutral to slightly increasing. In contrast, retail investors holding fewer than 10 bitcoins have been selling for a month straight. In addition, the number of independent entities holding at least 1,000 bitcoins increased from 1,207 in October last year to 1,303, indicating that larger holders are buying during the pullback.
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