Here’s what the purchase of Bitcoin worth $2.1B might mean
ambcrypto.comBitcoin, in its bid, to continue rising, needs to find some support from its investors. The new all-time high registered a couple of days ago was the result of the consistent rally this month. And, when observed closely, you can see that the same rally also woke some previously dormant investors. This led to BTCs worth $2.1 billion running out of exchanges.
Contrary to Ethereum investors’ behavior, Bitcoin is seeing more inflows from richer investors than retail. Addresses holding more than 100 BTC and the ones holding more than 10k BTC have been rising in numbers.
Bitcoin’s address distribution | Source: Glassnode – AMBCrypto
Most of these addresses have only appeared in the last 10 days, a period during which Bitcoin hit $65.9k and recorded
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