There is a group of investors that has not stopped buying since July.
The wallets that hold between 100 and 1,000 BTC (the so-called "dolphins", one tier below the large whales) accumulated 113,950 BTC since July 15. Today, they collectively have 5.24 million BTC, more than a quarter (26.1%) of all Bitcoin in circulation.
This aligns with another piece of data we mentioned earlier: Bitcoin has risen again above its 365-day average, something that hadn’t happened since March 2023. That crossover, the last time it occurred, preceded a much larger increase.
It’s no guarantee of anything, but it is a sign of conviction: while the price has been moving sideways these days, there are mid-sized buyers that continue accumulating nonstop.
Do you give weight to this kind of on-chain data, or do you only look at the price? 👇
#Bitcoin #OnChain #CreatorPad
The wallets that hold between 100 and 1,000 BTC (the so-called "dolphins", one tier below the large whales) accumulated 113,950 BTC since July 15. Today, they collectively have 5.24 million BTC, more than a quarter (26.1%) of all Bitcoin in circulation.
This aligns with another piece of data we mentioned earlier: Bitcoin has risen again above its 365-day average, something that hadn’t happened since March 2023. That crossover, the last time it occurred, preceded a much larger increase.
It’s no guarantee of anything, but it is a sign of conviction: while the price has been moving sideways these days, there are mid-sized buyers that continue accumulating nonstop.
Do you give weight to this kind of on-chain data, or do you only look at the price? 👇
#Bitcoin #OnChain #CreatorPad
