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As Bitcoin Crashes, Data Shows Whales Are Buying the Dip

Decrypt LogoDecrypt1 mo ago

As Bitcoin Crashes, Data Shows Whales Are Buying the Dip

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Amid the ongoing crypto crash, on-chain data indicates that so-called Bitcoin whales have been quietly filling their bags.

Currently, whales own as much as 8.69 million BTC, or 45.6% of Bitcoin's total supply of 21 million, according to Glassnode.

Still, when asked about the probability of such a scenario, Pellicer said there are no “clear on-chain structures that point out to a very fast market recovery.


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Article Details

Author / Journalist: Andrew Asmakov

Category: Crypto

Topics: Coins BTC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 15:43:59

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Reading Time: 3 minutes read

Article Length: 431 words

Coverage Area: Estonia

Availability: Desktop Web, Mobile Web

News ID: 25643

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About Decrypt

Decrypt Logo

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 11 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 11h ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #63

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