Number of Bitcoin wallets above 1,000 BTC hits 3-year low
The number of Bitcoin addresses holding at least 1,000 BTC (which he was worth nearly $17 million at the time of writing) hit a three-year low of 2,063 addresses.
Data from the blockchain analytics service shows whales are
sober with the current market conditions. Historical data show that the number
of Bitcoin addresses holding at least 1,000 BTC dropped sharply, often, but not
always, after the price of Bitcoin plummeted. Glassnode data also shows that
Bitcoin’s 7-day moving average trading volume hit a two-year low of $25.438 on
Dec. 3. A two-year low of $25,450 recorded the day before December 2, 2022.
This result follows recent findings from crypto market
analysts who suggest that major cryptocurrencies are on a downward trend
despite “people getting bullish for no reason.”