While fears are returning to devour the crypto market, the largest Bitcoin (BTC) holders still dominate the market. Where will Bitcoin come out?
The number of live dealers holding more than 10 BTC hits the highest level in three years.
The number of addresses on-chain by Bitcoin (BTC) dealers holding at least 10 BTC has hit its highest level since September 2020. The metric hit a three-year high with 157,324 wallets. Hold at least 10 BTC Bitcoin on September 2, 2023.
According to Glassnode’s chart, the number of live dealers holding at least 10 BTC has been steadily increasing since the beginning of March 2022. This happened at a time when the price of Terra (LUNA) crashed sharply and FTX collapse
according to U.Today As previously presented, Bitcoin (BTC) dealers are all taking full advantage of the recent Bitcoin (BTC) price rally as a result of Grayscale winning its legal case.
Major Bitcoin (BTC) dealers have quietly scooped up $388.3 million worth of BTC in the last 24 hours before a U.S. appeals court. The District of Colombia will publish its decision.
The tide of bullish sentiment started to return after the announcement of the decision between Grayscale and the SEC, which resulted in a sharp 7.7% increase in the price of Bitcoin (BTC), but then vanished in just two days.
at the same time Another indicator of the dealer’s behavior shows the overwhelming uncertainty in this regard.
Santiment, a leading crypto intelligence platform, has been monitoring the process. “Stablecoin accumulation”, which is a significant part of the power used to buy cryptocurrencies.
This is because bookmakers want stablecoins to buy BTC and drive its price higher. The accumulation of stablecoins usually takes place before the Bitcoin price has skyrocketed over the past day. This pointer still shows “neutral” as the Santiment chart says.
source : U.Today
2023-09-03 11:01:39
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