Dumping on the way down, buying as they go.
U.S. spot ETFs saw another $610 million in net outflows this week, with $ETH hit hardest, seeing $320 million redeemed. BlackRock’s ETHA alone saw $299 million flow out. Still, compared with last week’s $1.29 billion, the pace of redemptions has already halved.
Whales, meanwhile, are doing the opposite. The number of wallets holding between 10 and 10,000 coins hit an all-time high this week at 20,338. Over the past three weeks, they’ve been buying as prices fell, stacking a total of 85,000 $BTC .
Institutions are running, whales are scooping up coins—hard to say who’s right. Anyway, $BTC is still hovering around the $81,000 mark tonight. I’m off to bed.
#BTC #On-chainData
U.S. spot ETFs saw another $610 million in net outflows this week, with $ETH hit hardest, seeing $320 million redeemed. BlackRock’s ETHA alone saw $299 million flow out. Still, compared with last week’s $1.29 billion, the pace of redemptions has already halved.
Whales, meanwhile, are doing the opposite. The number of wallets holding between 10 and 10,000 coins hit an all-time high this week at 20,338. Over the past three weeks, they’ve been buying as prices fell, stacking a total of 85,000 $BTC .
Institutions are running, whales are scooping up coins—hard to say who’s right. Anyway, $BTC is still hovering around the $81,000 mark tonight. I’m off to bed.
#BTC #On-chainData