Whales representing big investors.Whales are busy buying bitcoin now that the price of cryptocurrency has dropped from a high of nearly $65,000 to less than $36,000. According to blockchain analyst Santiment, BTC addresses with 100 to 10,000 BTC have added a total of 90,000 BTC in the last 25 days – currently valued at $3.38 billion or 17.2 billion reais. Addresses with 100,000 to 10,000 BTC are collectively holding the largest amount of bitcoin since April 23rd. Source: Sanctity and DailyHodl.The company's analysis concludes that this group of BTC holders now accounts for nearly half of the reference cryptocurrency's current supply. “They now hold a 7-week maximum of 9.11 million BTC, currently worth a total of $366.89 billion at this time, and 48.7% of the total supply of #Bitcoin.”
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In addition, the analysis company Glassnode observed that miners are selling less and holding more and more bitcoins from their activities.Miners output volume, weekly moving average chart. Source: Glassnode. Weekly bitcoin outflows from miners' addresses dropped to around R$8.65 million, the lowest in five months. The BTC fell last month after Tesla CEO Elon Musk announced it the electric car company has suspended Bitcoin payments due to environmental concerns. However, Musk claims that Tesla has "diamond hands" and has not sold any bitcoin since the announcement. Meanwhile, corporate analytics software company Microstrategy, which owns more than 92,000 bitcoins, reveals in a filing with the CVM US, which plans to issue and sell additional shares to raise up to $1 billion to buy more bitcoin. Institutional adoption continues to grow, billionaire Carl Icahn recently said he plans to invest up to $1.5 billion in cryptocurrencies. Finally, it is worth remembering that the number of short positions, that is, betting on the low of the BTC, is also reaching US$ 2.2 billion, a level not seen since March 2020. Is the game now for the whales? See also: