Share of Bitcoin Whale Exchange Inflows Hits 1-Year High - Over 40%
Bitcoin whales represent the largest number of trade entries by volume since June 2022, as short-term holders become increasingly active.
![Bitcoin Whale Exchange Inflow Share Hits 1-Year High - Over 40%](https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvOGQ1NzRiOWEtZGY1Mi00NTIwLWIxYmItNGIyZWRjYmNjY2U0LmpwZ w= =.jpg)
Bitcoin (BTC) whale buying and selling in 2023 comes mostly from speculative investors, new data reveals.
In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode shows that contrary to popular belief, opportunistic entities are the most active whales.
The Birth of the Bitcoin “Short-Term Holder” WhaleSince BTC price action returned to $30,000, a shift has taken place among Bitcoin traders.
As Glassnode shows, so-called short-term holders (STH) — investors holding coins for up to 155 days — have become much more common.
It turns out that the largest cohort of investors, the whales, is also made up of a large number of STHs.
"The dominance of short-term holders on exchange entries has exploded to 82%, which is now significantly above the long-term range over the past five years (typically 55%-65%)," says Glassnode.
“From this we can establish that much of the recent trading activity is driven by whales active in the 2023 market (and therefore classified as STH). »
![](https://s3.cointelegraph.com/uploads/2023-07/476d4ebc-68f6-4578-a722-66e6f98f2c37.png)
Interest in trading short-term moves in BTC/USD was already evident before May. Since the collapse of the FTX in late 2022, speculators have become increasingly keen to exploit both upside and downside volatility.
Results were mixed: realized profits and losses steadily increased in line with price volatility.
“If we look at the degree of profit/loss made by the volume of short-term holders flocking to exchanges, it becomes clear that these new investors are trading local market conditions,” continues Glassnode.
"Every rally and...
![Share of Bitcoin Whale Exchange Inflows Hits 1-Year High - Over 40%](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-07/8d574b9a-df52-4520-b1bb-4b2edcbccce4.jpg?#)
Bitcoin whales represent the largest number of trade entries by volume since June 2022, as short-term holders become increasingly active.
![Bitcoin Whale Exchange Inflow Share Hits 1-Year High - Over 40%](https://images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvOGQ1NzRiOWEtZGY1Mi00NTIwLWIxYmItNGIyZWRjYmNjY2U0LmpwZ w= =.jpg)
Bitcoin (BTC) whale buying and selling in 2023 comes mostly from speculative investors, new data reveals.
In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode shows that contrary to popular belief, opportunistic entities are the most active whales.
The Birth of the Bitcoin “Short-Term Holder” WhaleSince BTC price action returned to $30,000, a shift has taken place among Bitcoin traders.
As Glassnode shows, so-called short-term holders (STH) — investors holding coins for up to 155 days — have become much more common.
It turns out that the largest cohort of investors, the whales, is also made up of a large number of STHs.
"The dominance of short-term holders on exchange entries has exploded to 82%, which is now significantly above the long-term range over the past five years (typically 55%-65%)," says Glassnode.
“From this we can establish that much of the recent trading activity is driven by whales active in the 2023 market (and therefore classified as STH). »
![](https://s3.cointelegraph.com/uploads/2023-07/476d4ebc-68f6-4578-a722-66e6f98f2c37.png)
Interest in trading short-term moves in BTC/USD was already evident before May. Since the collapse of the FTX in late 2022, speculators have become increasingly keen to exploit both upside and downside volatility.
Results were mixed: realized profits and losses steadily increased in line with price volatility.
“If we look at the degree of profit/loss made by the volume of short-term holders flocking to exchanges, it becomes clear that these new investors are trading local market conditions,” continues Glassnode.
"Every rally and...
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