As BTC struggles to cross over the $30,000 price mark, some whales have intensified accumulation, while others have reduced their risk exposure.
Glassnode found that in the last month, the different sub-groups of BTC whales exhibited varied behaviors as the coin’s price faced resistance at the $30,000 psychological price mark.
However, holders of 10,000 to 100,000 BTC adopted a bearish approach, reducing their balance by 49,000 BTC. Due to this, the period under review was marked by a “net reduction of just -8.7k BTC,” Glassnode found.However, while aggregate balance change remained relatively flat, the report noted that whale entities might be moving funds amongst themselves on crypto exchanges as “there are significant changes taking place both internally and via exchange flows.
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