First Mover Asia: Mid-tier “whales” (holding 100-1,000 BTC, or less than around $40 million) are trimming their exposure and the “minnows” are picking it up, data from Glassnode shows. thesamreynolds, DantesOutlook, Liqquidity report.
All of this is normal,Prices were naturally compressed and the whales took this as a chance to sell. The supply of bitcoin held by addresses that have between 100-1,000 BTC fell off a cliff, while the supply of bitcoin held by wallets with 0.1-10 bitcoin dramatically increased.
Almost in parallel, the number of short-term holders increased showing that this was new money flowing into bitcoin. This correction gave retail investors a good chance to get into the market while distributing the holdings of bitcoin across many, not few, hands. It also shows that retail investors continue to have confidence in bitcoin and used this chance to augment their holdings.during the turbulent first few months of the year. The Financial Times newspaper reported that retail continues to buy the dip.the market is rigged against them.
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