A leading crypto analytics firm finds Bitcoin (BTC) whales are re-accumulating after selling off huge amounts of the top crypto asset in the wake of FTX’s implosion earlier this month.
According to Santiment, whales have been dumping their cumulative holdings for 13 months, and addresses holding between 100 and 10,000 BTC sold off 1.36% of their supply across the first three weeks of November.
“Bitcoin’s whales have now spent 13 months dumping their cumulative holdings as prices have slid.
However, following a big push down in the first three weeks of November as FTX news broke, 47,888 BTC has been accumulated back in the past five days.”
BTC is trading at $16,443 at time of writing. The top-ranked crypto asset by market cap is up 1.58% in the past 24 hours and more than 1% in the past week.
Santiment also notes that the crypto markets have been showing a preference for altcoins over Bitcoin in the past seven days.
“Markets have mostly been favoring altcoins over the past week, with many returning double-digit positive return percentages. This has been enough to get traders excited for a crypto turnaround. Euphoric sentiment has surged to a three-month high.”
Santiment then tvrdi that Dogecoin (DOG) price spikes are often a “reliable reflection of crowd euphoria.”
“When altcoin hype peaks, DOGE is commonly in the forefront. As this chart illustrates, major spikes in the memecoin can be useful to foreshadow upcoming Bitcoin drops.”
DOGE is trading at $0.10 at time of writing. The eighth-ranked crypto asset is up more than 7% in the past 24 hours and more than 28% in the past week.
Ne propustite ritam - Subscribe da biste dobili kripto e-mail upozorenja koja se dostavljaju direktno u vašu ulaznu poštu
Check Price Action
Pratite nas na cvrkut, Facebook i telegram
surfovati Daily Hodl Mix
Izjava o odricanju odgovornosti: Mišljenja iznesena u Daily Hodlu nisu savjet o ulaganju. Ulagači trebaju obaviti svoju dužnu opremu prije nego što ulože bilo koja rizična ulaganja u bitcoin, kripto valutu ili digitalnu imovinu. Imajte na umu da su vaši transferi i trgovine na vlastiti rizik, a za sve gubitke koji mogu nastati odgovoran ste. Daily Hodl ne preporučuje kupovinu ili prodaju bilo koje kripto valute ili digitalne imovine, niti je Daily Hodl savjetnik za ulaganje. Imajte na umu da Daily Hodl sudjeluje u affiliate marketingu.
Featured Image: Shutterstock/Janiel Kaffe
Source: https://dailyhodl.com/2022/11/30/bitcoin-whales-load-up-over-789000000-in-btc-in-less-than-one-week-analytics-firm-santiment/