Glassnode: The number of whale addresses holding over 1000 BTC has significantly increased since last Friday.

On November 18, despite the continued pressure on the encryption market this week, the number of Bitcoin whales' wallets has surged against the trend. Glassnode data shows that since the end of October, whales have been consistently accumulating, with the number of addresses holding over 1000 BTC significantly rising since Friday. On October 27, when the BTC price was at a high of $114,000, the number of whale wallets had dropped to an annual low of 1354. However, as of this Monday, that number has rebounded by 2.2% to 1384, reaching a four-month high. At the same time, Glassnode indicators suggest that small investors holding more than 1 BTC may be one of the sources of selling pressure, with the total number of such wallets decreasing from 980,577 on October 27 to an annual low of 977,420 on November 17. This confirms the typical pattern in the encryption market, where retail investors panic sell during a big dump, while whales often seize the opportunity to accumulate. Markus Thielen, founder of 10X Research, stated that there is still some selling pressure from whales, emphasizing that the Federal Reserve's October 29 FOMC meeting has a profound impact on the current market. The meeting statement has disrupted the fragile balance between buyers and sellers, specifically between the super whales holding 1000-10000 BTC selling pressure and the whales holding 100-1000 BTC buying pressure. Although super whales are absorbing some of the selling pressure, the net flow data from the 30th shows that selling pressure still dominates.