PANews January 3 News, CryptoQuant analyst Julio Moreno posted that whales are not heavily buying Bitcoin. Currently, most Bitcoin whale data is influenced by exchanges, which concentrate large amounts of Bitcoin into a few addresses with larger balances. Therefore, whales seem to have accumulated a large amount of Bitcoin recently.
CryptoQuant has data excluding all exchange addresses, showing that whale balances are decreasing (Chart 1). Addresses holding 100-1000 Bitcoins also show the same trend, mainly holding ETFs (Chart 2).
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