CryptoQuant: Bitcoin’s new whales’ share of whale realized cap has risen to about 1/3, with a cost basis of about $77,000
Institutional activity can generally be interpreted in three ways:
① Long-term: allocated on an annual basis, with little attention to intraday price movements;
② Rebalancing: adjusting positions, which doesn’t necessarily indicate a bullish outlook;
③ Trading: short-term activity that can come and go quickly.
This move looks more like the first type, providing more of a price floor than a boost.
$BTC Latest: 82048.11, 24h +1.74%.