CoinDesk: Crypto Whales Enter Bitcoin Distribution Phase

CoinDesk experts have noticed changes in the behavior of large Bitcoin holders, the so-called whales. According to the study, wallet owners with balances over 10,000 Bitcoins have moved from the accumulation phase to the distribution of their assets. Investors who have less than the first cryptocurrency in their accounts continue to increase their reserves.

It is noted that the increase in positions among major players began back in April, when the price of Bitcoin temporarily dropped to $75,000. Now there is a change in strategy on the part of major market participants, which experts interpret as a desire to secure profits near historical highs.

As analysts note, "the Bitcoin market has reached a certain level of tension, but the potential for further growth has not yet been exhausted. Unrealized investor profits have not yet reached extreme values, which means the price may move up." In addition, experts emphasized that the volume of sales of digital assets has not yet reached peak levels. Since April of this year, the volume of open interest in Bitcoin futures contracts has grown by more than 50%, reaching $55.6 billion (previously the amount was $36.8 billion).

This growth indicates an expansion of the number of investors using derivatives and demonstrates growing confidence in the market of the first cryptocurrency. At the same time, experts warned that without the emergence of new factors capable of stimulating the growth of the BTC rate, there is a possibility of its correction below $100,000.

Let us recall that at a conference held in Las Vegas, Donald Trump Jr. and his brother Eric Trump expressed confidence that Bitcoin could renew its historical maximum in the near future.