Bitcoin Whale Indicator Detects Multi-Month Accumulation Trend As BTC Consider New $ 67,000 Test By Cointelegraph

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Lately, ‘s (BTC) Bigger investors have increased their reserves in line with the ongoing price rally, suggests a Glassnode metric.

Dubbed the ‘whale supply shock’, the indicator on the chain represented the ratio between the amount of Bitcoin held by “whales” and “fish”. Whales represent addresses that hold between 10,000 and 100,000 BTC, while fish are those that hold between 0.001 and 1,000 BTC.

BTC Whales Supply Shock Over Price. Source: Glassnode
BTC Whales Supply Shock recovers along with price. Source: Glassnode
BTC Whales Supply Shock peaks ahead of its spot price in May 2019. Source: Glassnode
Daily price chart showing a potential Bull Flag setup. Source: TradingView

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