Bitcoin Whales are Accumulating Bitcoin at Current Prices – What Information Do They Have?
Source: Unsplash Bitcoin (BTC) whales – the largest holders of coins on the network – have been accumulating BTC since price first hit the $20,000 level in June this year, one leading analyst argues. According to a tweet from Ki Young Ju, CEO of the crypto analytics platform CryptoQuant.com, the whale accumulation can be seen from a recently strong increase in exchange trading volumes, particularly on Binance. Looking at all exchanges as a whole, volume increased over 20x over the past six months, with the vast majority of the increase coming from Binance, the tweet said. “The volume renewed a year-high last month, but not much change in the daily closed price, indicating someone(s) is buying all the sell-side liquidity,” the CryptoQuant CEO wrote, before jokingly asking: “@CZ_Binance sir, this is bullish, right?” At the same time as volume has increased, the share of the overall trading volume that takes place on Binance – ...