Data: The Whale group, holding over a thousand BTC, is currently the only group buying, while the retail group holding less than 10 BTC has been consistently selling for a month
BlockBeats News, February 3rd, analyst James Van Straten quoted Glassnode data indicating that amid the Bitcoin price plummet, the super large investors holding more than 10,000 bitcoins (i.e., "whales") are currently the only group still buying, while all other holder size groups are selling.
According to Glassnode's "Wallet Entity Balance Distribution" data, the largest-scale whales are in a "light accumulation" phase, and since Bitcoin fell to $80,000 at the end of November last year, their balance has been maintaining a neutral to slightly growing trend. During this period, the Bitcoin price has mainly been fluctuating in the $80,000 to $97,000 range, continuing until the end of January.
In contrast, all smaller holder size groups are net sellers, especially retail holders with less than 10 bitcoins. This group has been selling for over a month, reflecting small to medium-sized investors' bearish outlook on the future market and their continued risk aversion mindset.
Meanwhile, the number of unique entities holding at least 1,000 bitcoins has increased from 1,207 in October last year to 1,303. Since Bitcoin hit an all-time high in October last year, the expansion of this group's size indicates that larger holders are buying the dip. Currently, the number of whales holding at least 1,000 bitcoins has rebounded to the high in December 2024, further confirming the market trend of "large funds absorbing selling pressure while small funds continue to exit" (Coindesk).
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