{"id":151674,"date":"2021-01-11T14:00:00","date_gmt":"2021-01-11T11:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run\/"},"modified":"2021-01-11T14:00:00","modified_gmt":"2021-01-11T11:00:00","slug":"bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run\/","title":{"rendered":"# Bitcoin whales are profiting as &#8216;weak hands&#8217; sell BTC throughout $40K bull run"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a364df1212ec\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a364df1212ec\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run\/#%E2%80%9CMillionaire%E2%80%9D_wallets_keep_growing\" >&#8220;Millionaire&#8221; wallets keep growing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run\/#Guggenheim_hints_it_will_sell_BT\" >Guggenheim hints it will sell BT<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin whales are profiting as &#8216;weak hands&#8217; sell BTC throughout $40K bull run <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) is changing hands fast after its drop to $32,000 and only millionaires are winning, data shows.<\/p>\n<p>Statistics governing wallet balances from Glassnode on Jan. 11 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/eliasimos\/status\/1348530882500562944\">reveal<\/a> that the main investors \u201cbuying the dip\u201d are those with a balance in excess of 1,000 BTC ($36 million).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CMillionaire%E2%80%9D_wallets_keep_growing\"><\/span>&#8220;Millionaire&#8221; wallets keep growing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Compiled by Elias Simos, protocol specialist at blockchain infrastructure provider Bison Trails, the numbers suggest that the wealthy have been profiting from Bitcoin being sold by smaller investors throughout December and January.<\/p>\n<p>\u201cAddresses with more than 1k $BTC continue growing at the expense of all others\u2013even as this most recent downturn is taking effect,\u201d Simos summarized. <\/p>\n<blockquote><p>\u201cWhile you were selling, whales were gobbling up your Bitcoin\u2026\u201d<\/p><\/blockquote>\n<p>While the number of wallets with smaller balances decreased as BTC\/USD climbed from $19,000 on Dec. 1 to recent highs of $42,000, the 1,000 BTC+ group became an outlier, growing in presence.<\/p>\n<p>The net effect is thus weak hands selling to strong \u2014 and the richer the entity, the stronger the hands. <\/p>\n<p>\u201cDon&#8217;t be part of the #BTC transfer to billionaires, corporations and hedge funds &#8230;. at least not yet,\u201d entrepreneur Alistair Milne <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alistairmilne\/status\/1348572718518702080\">warned<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers while responding to Simos\u2019 findings.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/1db32c61-7aa1-4688-af90-f7fe5ae1b2e9.jpeg\"><figcaption style=\"text-align: center;\"><em>Bitcoin entities with a balance of more than 1,000 BTC chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Guggenheim_hints_it_will_sell_BT\"><\/span>Guggenheim hints it will sell BT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While institutional buy-ins have become the standard narrative of Bitcoin over the past few months, a rogue \u201cweak hands\u201d signal from one of them caught analysts\u2019 attention this week.<\/p>\n<p>As Cointelegraph reported, Guggenheim Partners, which announced a sizable fund allocation to BTC in late November, is allegedly planning to sell some of its holdings already. The trigger came from CIO Scott Minerd, who on Monday said that Bitcoin\u2019s weekend drop provides the impetus to rethink its position.<\/p>\n<p>\u201cBitcoin&#8217;s parabolic rise is unsustainable in the near term. Vulnerable to a setback,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ScottMinerd\/status\/1348493010338803713\">wrote<\/a>. <\/p>\n<blockquote><p>\u201cThe target technical upside of $35,000 has been exceeded. Time to take some money off the table.\u201d<\/p><\/blockquote>\n<p>His suggestion <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to confuse market participants, with responses <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1348499682738245634\">querying<\/a> the rationale behind the decision, coming just weeks after Guggenheim\u2019s initial entry.<\/p>\n<p>\u201cCIO of huge firm day trading btc? It&#8217;s a 5-10yr hold minimum,\u201d macro investor Dan Tapeiro argued. <\/p>\n<p>Institutional uptake comes amid a more fundamental supply and demand squeeze for Bitcoin, with large buyers already outpacing what miners can produce each month. At the same time, miners have stepped up their sales in recent days, in what one theory <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/iamjosephyoung\/status\/1348287033727324160\">suggests<\/a> is some well-earned profit-taking at or near all-time highs.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-whales-are-profiting-as-weak-hands-sell-btc-throughout-40k-bull-run\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin whales are profiting as &#8216;weak hands&#8217; sell BTC throughout $40K bull run &#8221; Bitcoin (BTC) is changing hands fast after its drop to $32,000 and only millionaires are winning, data shows. Statistics governing wallet balances from Glassnode on Jan. 11 reveal that the main investors \u201cbuying the dip\u201d are those with a balance&#8230;<\/p>\n","protected":false},"author":1,"featured_media":151675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/88d4bb1c-f742-4fb1-b3db-e2bcb1158a0b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73711,73785],"class_list":["post-151674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/151674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=151674"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/151674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/151675"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=151674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=151674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=151674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}