Over the past three days, large wallets that hold between 100 and 10,000 BTC have accumulated another $2.9 billion worth of Bitcoin.
When Bitcoin hit an all-time high above $64,000, the amount of BTC in exchange reserves hit an all-time low. After the recent drop to $44,000 exchange reserves have reached a new low since the beginning of 2021.
A decrease in supply is believed to lead to an increase in prices.
Another signal that indicates continued growth is activity whales Before the September 7th sell-off, large addresses sold about $3.6 billion worth of BTC.
The price of BTC dropped 15% after whales sold more than 70,000 coins. After the fall, large investors continued to buy, and over the past three days they have accumulated 60,000 BTC.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
According to www.fxstreet.com
You May Also Like
BTC futures trading volume surpassed $2 trillion in January
Monthly trading volume in Bitcoin futures has doubled since December to more than $2 trillion.
Opinion: Today Bitcoin is a lottery ticket
Former chief economist of the IMF and current professor of economics and public law at Harvard University, Kenneth Rogoff, believes that at the moment, Bitcoin and other cryptocurrencies are the same as “lottery tickets.” In an article published in The Guardian on Monday, he wrote that despite popular belief that cryptocurrencies will finally fall, it is impossible to say with certainty that their value will continue to fall.
