Large Bitcoin investors are actively buying as the price approaches record levels.
The price of Bitcoin is around $109,000, just below its all-time high of $112,000.
In this situation, Bitcoin holders with over 1,000 Bitcoins are rapidly buying, which is a sign of expectations for future price increases.
In particular, investors with more than 10,000 Bitcoins have increased their buying momentum in recent days, while small investors are reducing their Bitcoin holdings.
This indicates that coins are transferring from small investors to larger or potentially institutional investors in the market.
According to Glassnode's trend accumulation score, which is used to measure buying trends in the market, large wallets have shown significant buying, while small holders have reduced their positions in recent months.
This shift began particularly when the price dropped to around $76,000 in mid-April, after which large wallets increased their purchases.
This trend indicates that large investors expect an increase in Bitcoin prices in the future and are therefore showing more interest in the market.
Large wallets are commonly referred to as 'smart money' because they hold significant capital in the market and their decisions are considered important for the market.
Currently, small investors holding between 1 Bitcoin and 100 Bitcoins are selling their holdings, leading to a transfer of coins in the market.
This situation, due to Bitcoin's price nearing record levels, is a sign of confidence in investments and indicates potential for future growth in the market.
This analysis has been conducted by James Van Straten, who is a senior analyst at CoinDesk and researches the role of Bitcoin in the financial system.
They believe that this purchasing by large investors could be a precursor to future increases in Bitcoin prices....
