Bitcoin accumulation accelerates among ‘whales’ and ‘fish,’ while BTC rallies to $40K By Cointelegraph – Investing.com
- Date: 31-Jul-2021
- Source: Investing.com
- Sector:Technology
- Country:Middle East
Bitcoin accumulation accelerates among ‘whales’ and ‘fish,’ while BTC rallies to $40K By Cointelegraph – Investing.com
Both small and rich (BTC) traders accumulated the benchmark cryptocurrency en masse during the period when its prices rose from below $30,000 to over $40,000, signaling their confidence in the asset’s long-term bullish setup.
The basis of the upside outlook came from Ecoinometrics, a crypto-focused newsletter service. It highlighted in its latest edition a flurry of on-chain data that tracked the flow of Bitcoin into wallets that belonged to the richest crypto traders, known as “whales,” and to entities that held the cryptocurrency in smaller quantities — the so-called “small fish.”
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