On-chain data shows Bitcoin whales have continued to shave off their holdings in recent weeks, suggesting that the current lows may not be attractive enough to them.
As pointed out by an analyst in a CryptoQuant post, the number of investors with balances in the 1k to 10k BTC range have continued to decline recently.
At the time of writing, Bitcoin’s price floats around $17.2k, up 1% in the last week. Over the past month, the crypto has lost 7% in value.
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