Bitcoin Bullish Signal: 1k-10k BTC Holders Have Been Buying Recently

On-chain data shows Bitcoin whales holding between 1k to 10k BTC have expanded their reserves recently, a sign that could be bullish for the crypto’s price. Bitcoin Reserves Of 1k-10k BTC Holders Have Observed Growth Recently As explained by an analyst in a CryptoQuant post, the whales holding between 1k to 10k BTC have shown smart-money behavior in the past as they usually buy near bottoms and sell near tops. The relevant metric here is the total amount of coins currently being held by the different holder groups in the Bitcoin market. The criteria for grouping the investors here is based on how many coins they are holding in their wallets. For example, the 100 to 1k BTC cohort includes all holders that have a wallet amount lying in this range. Now, below is a chart that shows the trends in the reserves of the 100 to 1k BTC and 1k to 10k BTC investor groups over the past year: It seems like the reserve of the 100 to 1k BTC holders has gone down recently | Source: CryptoQuant As you can see in this graph, the Bitcoin reserve of the 1k to 10k BTC whales has been showing some interesting movement. It looks like this holder group’s reserve has usually started to fall off as the price of the coin has neared any local top. Related Reading | Bitcoin NUL Suggests More Downside To Come Before The Bottom Also, likewise this cohort has timed their buys around bottom formations. This means that these investors have ...