Bitcoin whales join ‘small fish’ in buying BTC as price holds above $47K By Cointelegraph


Bitcoin whales join ‘small fish’ in buying BTC as price holds above $47K

Rich crypto investors are turning their attention back to (BTC) as its price continues to eye a breakout move above $50,000.

Crypto-focused newsletter Ecoinometrics reported positive changes in Bitcoin holdings for addresses controlling 1,000–10,000 BTC. So, based on their rising account balances throughout August, Ecoinometrics spotted a renewed accumulation sentiment among “whales,” hinting that wealthy investors consider the current Bitcoin price levels as attractive to place bullish bets.

Bitcoin accumulation trend vs. price levels. Source: Ecoinometrics
Number of Bitcoin addresses holding over 0.1 BTC. Source: Glassnode
Bitcoin UTXO realized price distribution. Source: Glassnode
daily price chart featuring the 20-day EMA support. Source: TradingView