Bitcoin (BTC) is down 30% from its $126,200 peak, trading just above the $85,000 support and fueling concerns of a deeper pullback toward the $70,000 region. Still, onchain data showed institutions and high-net-worth individuals are accumulating BTC.
Key takeaways:
- Bitcoin sharks accumulated aggressively at 2012-level speeds, signaling a dip-buying trend.
- Heavy selling by long-term and OG whales continues to cap upside, keeping near-term downside risks elevated.
Mid-sized Bitcoin traders add 54,000 BTC in a week
Bitcoin “sharks,” entities holding between 100 and 1,000 BTC, increased their collective holdings to about 3.575 million BTC from roughly 3.521 million BTC over the past seven days, absorbing around 54,000 BTC from smaller holders,…
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Source cointelegraph.com
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