With price action still a good 65% below all-time highs, the biggest Bitcoin investors have not yet decided that now is the time to return to the market.

According to Glassnode, whale numbers are now at their lowest in three years — just 1,663 unique entities now control 1,000 BTC or more. Three years ago, in February 2020, Bitcoin traded at under $10,000.

Glassnode defines a unique entity as "a cluster of addresses that are controlled by the same network entity."

At their peak in February 2021, there were 2,161 such whale entities.

(By WILLIAM SUBERG)

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