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Santiment, which provides on-chain data for cryptocurrencies, recently revealed in a chart that Bitcoin millionaires holding between 100 and 10 thousand BTC – namely whales – emptied all their BTC on September 6-7.

Bitcoin whales buy BTC from the bottom

According to new data from Santiment, Bitcoin whales sent their holdings back to the market on September 6-7, when the BTC price rose above $50,000. Cryptocoin. com

As we reported , the BTC price decreased by about 15 percent and fell below $ 45,000. This decline was followed by profit realization of individual investors. Then the whales started to buy BTC again.

https://twitter. com/santimentfeed/status/1438294620484497409

In the last three days, BTC millionaires have bought 60 thousand BTC. As a result, the price increased by another 5%. Glassnode co-founders “Yann and Jan” made similar observations. The founders said last week that several BTC holders were “shaken” and realized their losses. Then, he stated that stronger hands stepped in and they were buying at the bottom.

https://twitter. com/Negentropic_/status/1438264230076059649

As BTC climbed above $48,000, net profits and losses turned positive, and the market is absorbing these profitably spent coins. However, despite Bitcoin showing volatility in September, longtime BTC investors remain confident and holding on. At this time 45,000-47 for a while. BTC, hovering at $ 000 levels, rose above $ 48,000 in the saadollar series yesterday evening. At the time of writing, it has retraced to $47,974. It has increased by 0.5 percent in the last 24 hours and by 4 percent in the last week.

Should whales be addressed in crypto regulations? Forbes analyst explained

Amid regulatory pressure on crypto lately, regulators have had their eyes on several crypto projects in the market. However, Forbes analyst Oliver Renick thinks regulators should target whales that control greater power in price manipulations. Renrick uses the following statements on this subject:

It turns out that the people who pose the threat are the ones with the highest ability to move the markets. These people are whales, investment vehicle providers, fund managers, token creators. Crypto VIPs.


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Michael Lewis

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