"Whales Are Not Buying More Bitcoin," Says CryptoQuant

CryptoQuant, a cryptocurrency on-chain analysis firm, released its weekly report on the 9th, analyzing misconceptions about the buying by large investors and the selling by long-term holders.

Firstly, it stated that Bitcoin (BTC) whales (large investors) are not buying the dip during the downturn. It pointed out that the holdings of these whales have been rapidly decreasing since the beginning of 2023.

Excluding exchange addresses, the total balance of addresses holding between 1,000 and 10,000 BTC saw a yearly change, peaking in this cycle around March 2024 with +409,000 BTC, and is currently...