Bitcoin

Bitcoin whales start to decline with price spikes – why?

Numbers from many analytics portals show that the number of Bitcoin whales has recently declined, suggesting that BTC has been sold quite heavily since the start of the bull run.

Downsizing the Bitcoin whales

Data from Bitinfocharts.com shows The top 100 Bitcoin whale addresses have been shrinking since May 14, showing that things have changed. Statistics from Glassnode show that whale addresses above 1,000 BTC have fallen to eight-year and ten-month lows.

In addition to the two websites that offer Bitcoin whale on chain analysis, Whalemap.io also implies a reduction in the number of whales (balance ≥1,000 BTC) and a shortened sales cycle. Additionally, Bitinfocharts.com’s top 100 bitcoin addresses show that there were three whales on May 13, 2021 that held between 100,000 and 1 million BTC.

Source: Bitinfocharts.com

There are currently only three whales left with 100,000-1 million BTC, and that number hasn’t changed in a long time. The number of addresses with 10,000 to 100,000 BTC has dropped from 85 to 77 since May 13th.

Whales release BTC in the 2012 Bull Run

The number of addresses with 100 to 1,000 BTC was also around 13,989 5 months ago and currently has 13,987 addresses. And addresses with 10 to 100 BTC or less have increased dramatically over the same period.

Bitcoin logarithmic growth curve. Source: Bookintobitcoin.com.

The last time the whale group owned 1,000 BTC at this low was in mid-December 2012, after the previous bull run.

In the past few weeks, all Bitcoin addresses have gone up with less than 1,000 BTC. Up to 19,716,447 addresses have between 0 and 0.001 BTC, which makes up 51.24% of the addresses. Addresses currently 0.1 to 1 BTC are around 2,437,951 addresses, and there are 665,893 addresses with at least 1 to 10 BTC.

https://twitter.com/IllusiveTrades/status/1447258842014883842?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“February – May, Bitcoin whales (> 1,000 BTC) are gradually being sold and absorbed by private investors (> 0.1 BTC). For this reason, the distribution period is shown in the HT diagram. They keep the price stable by manipulating until they sell out – then they crash. The whales have won again. “

 

Chances are, Bitcoin is up over 25% in the past 30 days, but some whales have made a lot of profits from the sale. It is also possible that the whales have simply distributed their wealth to more addresses.

The last time Bitcoin whale addresses were at this low level was during the 2012 Christmas season and then Bitcoin’s first bull run. Bitcoin peaked at $ 30 in the summer of 2012 and the fall months, but by December of that year it was just over $ 2. The total number of whales also decreased sharply at this time.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Teacher

According to News.Bitcoin

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

 

The last time Bitcoin whale addresses were at this low level was during the 2012 Christmas season and then Bitcoin’s first bull run. Bitcoin peaked at $ 30 in the summer of 2012 and the fall months, but by December of that year it was just over $ 2. The total number of whales also decreased sharply at this time. The last time Bitcoin whale addresses were at this low level was during the 2012 Christmas season and then Bitcoin’s first bull run. Bitcoin peaked at $ 30 in the summer of 2012 and the fall months, but by December of that year it was just over $ 2. The total number of whales also decreased sharply at this time.
Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

9 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.