Bitrabo Editorial
Recent on-chain data indicates that major investors in the Bitcoin network have been actively buying while the market has been in a state of panic due to the recent crash.
Positive Trend in Bitcoin Large Holders Netflow
According to data from the market intelligence platform IntoTheBlock, the biggest wallets on the Bitcoin blockchain have experienced significant net inflows recently.
The key indicator here is the “Large Holders Netflow,” tracking the net amount of cryptocurrency entering or leaving wallets held by these “Large Holders.”
Large Holders are defined as investors owning at least 0.1% of the total circulating supply, equivalent to around 19,700 BTC with a value exceeding $1.2 billion at the current exchange rate.
Monitoring their behavior can offer insights into market sentiment, given their substantial influence.
The chart below illustrates the trend in Bitcoin Large Holders Netflow over the past month:
Amid a bearish market trend, these Large Holders have been accumulating BTC, evidenced by substantial net deposits in their wallets despite the recent market crash with Bitcoin dropping below $60,000.
During the dip, these investors made their strongest net inflows since late May, acquiring 7,130 BTC worth nearly $439 million, suggesting confidence in accumulating during market lows.
Another promising development occurred as exchanges witnessed significant USD Coin (USDC) inflows, potentially indicating increased buying pressure for BTC.
Bitcoin Price Update
Currently, Bitcoin is trading around $61,500, down more than 4% in the past week.