Bitcoin Supply
Bitcoin ‘whales’ and ‘fishes’ pause accumulation as markets weigh March 50bps hike odds
An uptick in Bitcoin (BTC) supply to whales’ addresses witnessed across January appears to be stalling midway as the price continues its intraday correction toward $42,000, the latest data from CoinMetrics shows. Whales, fishes take a break from Bitcoin The sum of Bitcoin being held in addresses whose balance was at least 1,000 BTC came to be 8.10 million BTC as of Feb. 16, almost 0.12% higher month-to-date. In comparison, the balance was 7.91 million BTC at the beginning of this year, up 2.4% year-to-date. Bitcoin supply in addresses with balance greater than 1,000 BTC. Source: CoinMetrics, Messari Notably, the accumulation behavior among Bitcoin’s richest wallets started slowing down after BTC closed above $40,000 in early February. Their supply fluctuated with...
