It’s been just revealed that Glassnode dropped an important study on Bitcoin whales recently. Check out the following reports below.
BTC whales accumulate the digital asset
According to crypto analytics platform Glassnode, the biggest non-exchange Bitcoin (BTC) whales have been actively accumulating the leading digital asset for the past six weeks.
According to Glassnode, it has been observed that owners of non-exchange BTC of all sizes, except for one, have been selling their Bitcoin holdings during the same time period.
“An interesting dichotomy across the Bitcoin Accumulation Trend Score persists, as the largest of Whales (>10,000 BTC) continue to aggressively accumulate, whilst all other major cohorts experience heavy distribution.”
According to the analytics firm, exchange inflows of major assets are at a remarkably peaceful level of $1.84 billion, which is close to the lowest point of the cycle.
According to Glassnode, the total amount of Bitcoin held on Binance and Bitfinex, two of the top three crypto exchanges, has increased by 421,000 BTC and 250,000 BTC, respectively, in the past three years. However, the amount of Bitcoin held on Coinbase has decreased by 558,000 BTC during the same time frame.
The latest prediction about BTC’s price
According to a popular on-chain analyst, there is an indication that Bitcoin (BTC) may experience a surge in value this month.
A well-known analyst named Willy Woo has shared with his one million Twitter followers that Bitcoin’s cost-basis analysis suggests a potential rally for the leading cryptocurrency in June.
Investors pay a price to acquire an asset like Bitcoin, which is referred to as the cost basis.
“Cost basis analysis showing upside looking better than downside.
Summer months are typically flat or bearish, but every June inside the re-accumulation phase has been bullish, we’re in one such window.”
He continued and said the following:
“There’s a window for BTC to rip in June. My educated guess would be a week away from the opportunity to open. Let’s see.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $26,851.
