Since Bitcoin (BTC) hit an all -time high (ATH) at $ 61,781 on March 13, the king of cryptocurrencies has lost its luster despite investors trying to bring its value back to the $ 60,000 level.
Today, the BTC is getting worse when it slipped below $ 54,000 just now.
According to reports, the number of Bitcoin whales has declined despite asset accumulation for wallets owning 1 BTC or less since March 2018. Record whales owning over 100 BTC also saw a flat movement with 62.6% of supply, showing an increase of just 0.87% since over 12 months.
At the same time, the transfer of BTC dumping from long-term investors to new buyers is underway.
While Digital Asset FundFlows ’weekly report, explains trading for Bitcoin investment products has shrunk to $ 713 million per day in the last week, compared to $ 1.1 billion per day in 2021.
Inflows for Coinshares investments in the United States (US) are slowing and in Europe and Canada continue to continue.
Analytics provider Glassnode also agreed with the opinion of one of China’s largest Bitcoin miners, Jiang Zhuoer on the bullish that will end this September, as soon as possible.
Investment manager Timothy Peterson has said declines in the number of whales are common but not always associated with bearish markets. The expectation is that the price of Bitcoin may drop as much as $ 25,000.
At the time of writing, BTC is trading at $ 54,226, down 5.94% in 24 hours.
