Whales took advantage of the fall in BTC and risen purchases

by in Cryptocurrency News

Whales

The fall in the value of bitcoin last Monday was used by large cryptocurrency holders.

It was these players who strengthened the purchases of BTC and prevented it from falling below $ 30,000. Although some analysts did not rule out a scenario in which support would return only in the region of $ 28-29,000.

The number of wallets controlling at least 1,000 BTC has grown to a new record (2,140). The growth in the number of large bitcoin addresses continued even as the value of the coin fell by 20%, according to a report by Glassnode.

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The maximum trading volume was observed at the beginning of the week. Almost all exchanges recorded a sharp increase in trade turnover.

It looks like the whales bought the plunge and staved off a larger pullback in bitcoin, which climbed 300% last year, hitting an all-time high last weekend (42,000). As soon as Bitcoin recovered above $ 35,000, large investors relaxed their aggression, and some of them switched to wait and see tactics.

Analysts have concluded that any new rollback will be supported by "whales" who seek to buy cryptocurrency on acceptable terms for themselves. The number of large bitcoin addresses has grown by 200 over the past two weeks. Over the year, "whales" have increased by 25%.