Summary
- An analysis found that whale investors are absorbing Bitcoin (BTC) being sold by retail traders.
- It said demand for Bitcoin is declining in the spot market, while inflows into accumulation addresses linked to long-term holders are increasing.
- The report said the market could show a strong upward trend if Bitcoin spot demand turns positive again.
Forecast Trend Report by Period
Whale investors are absorbing Bitcoin being sold by retail traders as individual investors continue to cut their holdings, according to a CryptoQuant analysis.
BlockBeats reported on July 18 that CryptoQuant said in a report that Bitcoin demand is declining in the spot market. At the same time, inflows into accumulation addresses linked to long-term holders are rising.
That suggests long-term investors are absorbing supply sold by retail participants.
The report added that the market could enter a strong upward trend if Bitcoin spot demand turns positive again.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.