As prices fall, small investors are accumulating Bitcoin aggressively
The recent fall in cryptocurrency prices has not been able to scare away small investors. The wallet addresses of those holding less than 1 BTC have added 96,200 bitcoins to their stashes since the FTX collapse.
The number of #Bitcoin "wholecoiner" addresses (holding ≥ 1 BTC) on this day every year 📈
— Rafael Schultze-Kraft (@n3ocortex) November 26, 2020
Data: https://t.co/VJm4nRFKp8 pic.twitter.com/6VJff2vB3r
According to analysts at Glassnode, this category now holds over 1.21 million BTC, which is ent to almost 7% of the circulating supply of the leading cryptocurrency in the market.
Another category of smaller Bitcoin holders who took the opportunity to buy on the dip were investors holding between 1 BTC and 10 BTC. This category of investors acquired over 191,000 BTC in the last 30 days.
On the other hand, Bitcoin whales, larger investors who own more than 1,000 Bitcoin units are the main category that have partially sold their holdings, sending around 6,500 Bitcoins to cryptocurrency exchanges in the last 30 days.
