Long-term Bitcoin holders stop selling while Ether whales accumulate
- Wallets holding Bitcoin for over 155 days reduced their positions from 14.8 million coins in mid-July to 14.3 million in December.
- Long-term holders have halted selling for the first time since July, according to crypto investor Ted Pillows.
- Ether whales increased their holdings by approximately 120,000 Ether since December 26, controlling about 70% of the supply.
- The Coinbase Bitcoin Premium Index has remained negative, indicating selling pressure among US traders.
- Bitcoin traded between $86,744 and $90,064 over the past week amid rising fear and uncertainty in the market.
The recent behavior of long-term Bitcoin holders and Ether whales suggests a shift in market dynamics, with significant accumulation occurring despite overall market caution. Analysts note that this could influence future price movements as large holders control substantial portions of both assets.
With long-term holders halting selloffs and Ether whales increasing their stakes, the current market conditions may set the stage for potential price changes in both Bitcoin and Ethereum. (Source)
