"Individual Investors Sent 900 Billion Won Worth of Bitcoin to Binance This Month... Whales Remain Cautious"
Summary
- It was reported that individual investors sent approximately 900 billion won worth of Bitcoin to Binance just this month.
- Individual investors believe the bull market has ended and are cashing out their Bitcoin.
- Major 'whale' investors are maintaining a cautious approach to selling and are minimizing their sales.
There are observations that individual investors have been selling their holdings of Bitcoin (BTC) this month. On the other hand, 'whale' investors are maintaining a cautious approach to selling.
On the 31st, cryptocurrency-focused media Cointelegraph, citing data from the cryptocurrency analysis platform CryptoQuant, reported, "Investors holding small amounts of Bitcoin have been cashing out their Bitcoin this month," adding, "Individual investors have sent 6,000 BTC (approximately 900 billion won) to Binance this month."
The media explained, "Looking at the inflow to exchanges, it seems that individual investors believe the bull market has ended," while also noting, "Whale investors are minimizing their sales." It is estimated that whale investors have sent about 1,000 BTC to Binance this month.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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