Recent days have witnessed a categorization of Bitcoin inflows into centralized exchanges based on their value bands, revealing signs of active selling pressure from both sharks and whales in the market.
Sharks (Holdings between 100-1000 BTC)
Whales (Holdings exceeding 1000 BTC)
Following Bitcoin reaching the $49,000 price level, a shift in the nature of sellers in the exchange markets is notable. Previously dominated by retail investors, akin to shrimps (holding less than 1 Bitcoin), the market is now witnessing larger players taking charge, and these powerful holders are currently envisioning profits in the exchanges.
Temporal data indicates that these holders, with a higher ratio than short-term Bitcoin holders, have significantly filled their pockets with substantial amounts of Bitcoin during the upward trend in 2023.
Written by Crazzyblockk
