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Bitcoin whales are changing their accumulation trend

Investors with more Bitcoin (BTC) are currently showing a change in behavior.

Exactly The big whales of the market (investors with more than 10,000 bitcoins) are slowing their accumulation trend. So it is possible to see it in the following graphic of the explorer glass knot shared by analyst James V. Straten.

As seen in blue on the top right, from mid-April to early May, the great whales aggressively acquired bitcoin. But after that, their accumulation trend has now been plotted in yellow, meaning their buying intensity has roughly halved.

Blue indicates investors are accumulating bitcoin, while red indicates they are not or selling. Source: Glassnode.

Therefore, Big bitcoin whales are closing in on smaller investors’ tendency not to hoard or sell. This can be seen in red at the bottom of the chart and has been happening since mid-April.

This metric defines that investors close to a rating of 1 (blue) have accumulated bitcoin. In contrast, he claims that a value close to 0 (red) indicates that they have not accumulated or that they are selling. Yellow is now in the middle of this scale.

Bitcoin price recovered slightly from its decline to its lowest level in two months. Spring: TradingView.

The current low accumulation behavior comes at a time when the cryptocurrency price is struggling to hold $27,000. As CriptoNoticias reported, it fell to $25,800 last week, its lowest level in two months.

The price of bitcoin tends to rise when investors are willing to pay more to buy it due to increased demand, while it tends to fall when the opposite is the case. For this reason, The lower accumulation of investors may have influenced the price drop of the cryptocurrencyand could continue to do so if this trend continues.

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