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21.11 - 12:49
Bitcoin whale indicator detects multi-month accumulation trend as BTC eyes $67K-retest
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Bitcoin's (BTC) biggest investors have been lately upping their reserves in sync with the ongoing price recovery, one Glassnode metric suggests.
Dubbed as "Whale Supply Shock," the on-chain indicator represents the ratio between the amount of Bitcoin held by "whales" and "fishes." Whales represent addresses that hold between 10,000 BTC and 100,000 BTC, while fishes are those that hold anything between 0.001 BTC and 1,000 BTC.
A rising Whale Supply Shock reading indicates a higher degree of accumulation by whales versus fishes. Conversely, a declining Whale Supply Shock shows fishes are accumulating Bitcoin at a faster pace than whales.
That said, the Whale Supply Shock tends to provide "a measurement of supply locked in Whales wallets which
Read more on cointelegraph.comAbout this in other media
Bitcoin clings to $56K as whales keep buying — Watch these BTC price levels cointelegraph.com /2 years ago
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Whales might be key to XRP’s intended breach of $1.5 ambcrypto.com /2 years ago
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