The biggest of cryptocurrencies bitcoinAlthough the Fed slowed the rate of interest rate hikes by 25 basis points, Powell’s hawkish statements made sales on Friday.
Bitcoin, which reached an all-time high of $69,000 in November 2021, has since lost three-quarters of its value. BTC Although it has tried to recover in the past months, investors have lost a great deal of confidence with the bankruptcy of the giant cryptocurrency exchange FTX last month.
After the losses in the market, the IntoTheBlock research team recently shared up-to-date data on how many Bitcoin owners are in profit. According to the report, only 36% of investors are making a net profit, while 51% are in sharp losses. The profit-loss statement of the remaining 14% is at par.
Despite the continued decline in Bitcoin price, new data shows that whales continue to accumulate.
Whales Keep Buying
on-chain Crypto whales continue to collect Bitcoin, according to a new report from analytics research firm Glassnode. According to the data, wallets holding 100 to 10,000 BTC have purchased $726 million worth of Bitcoin in the last 9 days.
Although this figure represents a very small portion of BTC holders, it is generally accepted that large wallet holders can read the market better than small investors. The accumulation of whales may be a pricing attempt after the market predicts that interest rates will decrease again towards the end of 2023.
Glassnode analysts also found wallets holding between $100,000 and $10 million in stablecoins. USDT, BUSD and DAI He noted that he continued to buy.
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