Bitcoin whales are witnessing a historic exodus. @CryptoVizArt, a senior researcher at Glassnode has shed light on the significant shifts within the whale cohort in a new analysis. Bitcoin Whales’ Impact: Unveiling The Numbers In a remarkable revelation, the research highlights the substantial impact of whales on recent market activity. According to the data, “34% of sell pressure in the last 30 day was from Binance whales.” These influential entities have been instrumental in shaping the recent market dynamics. Moreover, the research also highlights a trend in whale behavior: a noteworthy decline in the total balance of whale entities on exchanges. In the last 30 days, the report states, “Whale Flow to Exchanges witnessed the largest monthly balance decline in history, hitting -148,000 BTC/month.” This dramatic decline marks a significant shift within the whale cohort, raising intriguing questions about their motives and strategies. Related Reading: Bitcoin Price Hits Next Bearish Target But Bears Are Not Done Yet As the market witnessed the rally above $31,000, the influx of whale funds to exchanges surged remarkably. Glassnode’s data reveals that whale i ..
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