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Bitcoin Whales Slow Down Following Months of Accumulations: What About BTC Price?

A recent report indicated that the number of Bitcoin whales has started to decrease following months of increased accumulation. Contrary to most expectations, history shows that retail investors are typically taking advantage of similar conditions, which could signify the beginning of a new run-up. Bitcoin Whales Accumulation Slows Down Bitcoin whales are considered addresses that own at least 1,000 BTC. As CryptoPotato reported previously, the number of such entities has been continuously expanding in the past several months. Even after the completion of the third halving, whales kept on accumulating, using most price dips as an opportunity to buy at…

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Bitcoin whales decreasing is not a bad sign

Breaking out of its consolidation period, Bitcoin‘s value increased to $11,731 on 12 October, before dropping to $11,385, at the time of writing. This drop could be the minor corrections taking place in the market, but this was the longest time frame BTC’s value maintained its position above the $11k resistance in a while. The […] The post Bitcoin whales decreasing is not a bad sign appeared first on AMBCrypto.

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Report: After Buying Bitcoin’s Bottom In March, Whales Continue Accumulating

Analyzing Bitcoin on-chain data and market behaviors, a collaborative report published by OKEx insight – the research division of OKEx crypto exchange – and blockchain data firm Catallact reveals that smart money investors and institutional players may have been buying BTC since the COVID-19 outbreak. On the Bitcoin blockchain, as the amount of BTC being transacted increases, the number of transactions decreases. In other words, “the larger the movement of coins on the Bitcoin blockchain, the less common it is.”  Small Transfer Moving With Bitcoin Price But for one thing, smaller transfers between 0 and 1 BTC are more dominant…

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Despite Bitcoin’s Latest Price Crash, BTC Whale Addresses Are At ATH

A recent report compiled by Santiment revealed that the number of Bitcoin whale addresses had been gradually increasing in the past few years. The growing accumulation levels and HODLing mentality could reduce the impact of short-term bearish developments and pump BTC in the long-run. Bitcoin Whales At ATH BTC whales are considered individuals or organizations holding at least 1,000 bitcoins in one address. According to Santiment’s report shared with CryptoPotato, the number of such addresses has recently marked a new all-time high. BTC Whale Addresses. Source: Santiment As illustrated in the above chart, BTC whales were accumulating and HODLing prior…

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Whaling season hurts Bitcoin, XRP, Ethereum & Chainlink

Cryptocurrencies and their proponents take a lot of pride in the former’s decentralized nature. In fact, if you ever hear someone pitching Bitcoin to someone else, you can be pretty sure that decentralization and a lack of central authority will be one of the first features he/she will highlight. A pitch like that is well and good, but how is it coming out in practice? Well, a recent report seemed to answer that question in the negative. The reason – Whales. The report in question, Santiment Pro’s latest weekly report, assessed 850 of the market’s top crypto-assets. Following the same,…

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Bitcoin Ownership Steadily Shifts From Whales to Small Investors, Data Shows

The amount of bitcoin held by small investors has more than doubled in the past five years as so-called whale holdings declined by an almost similar margin during the same period. According to new data from Glassnode, the percentage of supply owned by entities holding 10 BTC or less has grown from 5.1% to 13.8% since June 2015. At the same time, whale-sized bitcoin wallets holding between 100 to 100,000 BTC have dropped to 49.8% from 62.9% five years ago. The figures suggest mass adoption is on the rise and that the top cryptocurrency is becoming more decentralized. “Control of…

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$1 Billion Worth of Bitcoin Just Sent For a $4 Fee

Bitcoin’s network is known for a lot of things, and low transaction fees are undoubtedly one of them. Less than an hour ago, we saw another example of this as upwards of $1 billion worth of BTC was transferred from one address to another for a fee of $4 at current rates. $1 Billion Worth of BTC Transferred for $4 Whale transactions are not uncommon in the cryptocurrency field. At the beginning of July, CryptoPotato reported that someone had moved $933 million worth of Bitcoin (around 101,860 BTC) for about $0.48. This represented about 0.5% of Bitcoin’s total supply. Now,…

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