The whale selloff has leveled out for now. As such, Bitcoin may enjoy some relief from more downside. On the other hand, the same whale category did not register a sharp bounce.
Bitcoin sell pressure slowed down paving the way for some accumulation but it might not be out of the woods yet.especially after concluding a bearish week. The metrics may offer deeper insights into how recent events have affected BTC holdings’ demand.
The number of addresses in profit or at a loss is an important metric for Bitcoin analysts. It gives a rough estimate of how investors have been affected by the recent bearish conditions. It can also be used to evaluate the impact ofAccording to a recent Glassnode alert, the number of Bitcoin addresses at a loss just reached a new monthly high.
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