Bitcoin whales leaked 140 thousand BTC to the market in the last 3 weeks

According to crypto data aggregator Glassnode, since February 5, whales have sold 140 thousand bitcoins, earning about $ 6.72 billion..

Observing the change in the balance of wallets with reserves of more than 1,000 BTC, the company’s analysts noted a trend towards the accumulation of cryptocurrency throughout January, during which they purchased 80 thousand BTC. However, since February 5, the whales began to actively take profits, having sold 140 thousand bitcoins over the past 3 weeks..

At the same time, Glassnode notes that so far large players poured their reserves into the market, investors with balances from 100 to 1000 BTC, on the contrary, were more inclined to buy. During this period, they purchased 117 thousand coins for $ 5.61 billion..

Bitcoin whales leaked 140 thousand BTC to the market in the last 3 weeks

Holders of 10-100 BTC wallets have been actively selling their stocks since November 2020. In 3.5 months they got rid of 128 thousand coins, earning $ 6.14 billion.

Bitcoin whales leaked 140 thousand BTC to the market in the last 3 weeks

Analysts are inclined to believe that the recent recession was initiated by one of the whales, which was supported on Monday by other major «fish». The collapse stopped after the head of the US Federal Reserve, Jerome Powell, announced that the stimulus would not stop soon, which stimulated a decline in government bond yields. Around this time, several companies also reported large Bitcoin acquisitions..

At press time, BTC is trading at $ 50,923 with a daily gain of 6.58%. Investors are attracted by an increase in the level of recognition of the cryptocurrency, which contributes to the growth of capitalization.

text: Ivan Malichenko, photo: iStock

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