Whale Appetite Returns
Bitcoin whales, individuals or organizations with massive Bitcoin holdings, have been buying up BTC in recent days. This surge in buying activity suggests that whales believe current prices are attractive.
Indicators of Whale Activity
Two key indicators track whale activity:
- Total whale holdings: The total amount of BTC held by whale addresses.
- 30-day percentage change in whale balance: A moving average that measures the monthly percentage change in whale holdings.
Rising Whale Holdings
The monthly percentage change in whale address holdings has increased recently, and the total whale balance has risen steadily. This indicates that whales are actively accumulating BTC.
Return to All-Time Highs?
If whale accumulation continues at its current pace, it could push Bitcoin back to its all-time high of $73,737. Whales have historically influenced price movements, and their renewed buying appetite is a positive sign for the market.
Current Bitcoin Price
As of writing, Bitcoin is trading around $69,216, up 0.8% in the past 24 hours.
