Whales Accumulate Large Amounts of Bitcoin Around $19,000

Buy whales in

The blue circles in the price chart are points where Bitcoin whales buy in relatively large quantities. At the bottom right of the chart you can see, for example, that the hwales bought more than 43,200 Bitcoin on October 19, around the price of $ 19,123. Normally, these levels form a strong support or resistance for the price.

At the time of writing, whales are buying massively around current price levels, which may explain the extreme stability Bitcoin currently exhibits around $19,000. This buying behavior indicates that the whales believe there is a chance that we are currently at or near the bottom. We may go a step lower, but we never know for sure.

What exactly does this mean?

The blue spheres in the chart show the buying behavior of whales of different sizes. This statistic ranges from wallets with 1 to 10 Bitcoin to wallets with more than 10,000 Bitcoin. You can also choose to view a specific cohort of whales in this chart. If you are more interested in the short-term price action of Bitcoin, it is also possible to make an hourly chart of it.

Read Also:  ASX approves second Bitcoin ETF from DigitalX: Australia's largest exchange greenlights Bitcoin exchange-traded fund.

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