Bitcoin whales are on the radar as short-term holders emerge.
Bitcoin whale buying and selling in 2023 is mostly from speculative investors, new data reveals.that contrary to popular belief, opportunistic entities are the most active whales.Since BTC price action returned to $30,000, a shift has taken place among Bitcoin traders.
“Short-Term Holder Dominance across Exchange Inflows has exploded to 82%, which is now drastically above the long-term range over the last five years ,” Glassnode states. “If we look at the degree of Profit/Loss realized by Short-Term Holder volume flowing into exchanges, it becomes evident that these newer investors are trading local market conditions,” Glassnode continues.
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