Bitcoin whales are not selling. The number of BTCs at exchanges is stable
1 min readBitcoin made a big leap. Its price has grown from 9100 to over 11,000 US dollars. Nevertheless, the data show that the volume at crypto exchanges has not changed. Only 14.5% of all BTCs are now in exchanges. Glassnode came up with the news. Their findings reveal that whales and other major players are not selling yet.
Whales hold their BTC. Do they expect further growth?
Before halving in May, a large number of Bitcoin left. Nearly $ 220 million was raised. And in one day and from a single exchange, Coinbase. Real choices will definitely be higher. This event meant a great drop of supply in the market, which still does not return despite the cryptocurrency growing.
The course of the last few days was the biggest that we had to see in 2020. According to their behavior, bitcoin whales expect further growth. This is the most popular explanation for why no cryptocurrencies have started to return to crypto exchanges.
Optimism started the whole market after halving, when the price of the main cryptocurrency skyrocketed. No wonder it still doesn’t leave the market. $ 10,000 beat Bitcoin only once in 2020 and failed to stay above that level. He then fought for $ 9,000 for two months, which eventually served as a ramp to respond to the Fed’s money printing.
You might also like: One Crypto Will Become Centerpiece of Billion-Dollar Revolution – and It’s Not Bitcoin
