{"id":190438,"date":"2021-02-27T19:13:40","date_gmt":"2021-02-27T16:13:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/institutions-and-miners-accumulating-through-bitcoin-chop-whales-uncertain\/"},"modified":"2021-02-27T19:13:40","modified_gmt":"2021-02-27T16:13:40","slug":"institutions-and-miners-accumulating-through-bitcoin-chop-whales-uncertain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/institutions-and-miners-accumulating-through-bitcoin-chop-whales-uncertain\/","title":{"rendered":"# Institutions and miners accumulating through Bitcoin chop; whales uncertain"},"content":{"rendered":"<p>&#8220;<strong># Institutions and miners accumulating through Bitcoin chop; whales uncertain <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>After a violent price reversal last week that saw Bitcoin retreat from all-time highs, traders and analysts are now eyeing major players and investors to gauge BTC\u2019s next move \u2014 and so far the reaction is decidedly mixed.<\/p>\n<p>Data from on-chain analytics firm Glassnode indicates that the number of Bitcoin whales \u2014 a term for wallets that hold between 1,000 and 10,000 BTC \u2014 has at least temporarily reversed what was previously a strong uptrend starting in April 2020, a phenomena Glassnode labeled as a potential \u201cend of whale spawning season.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/aac169d1-bd2c-46e8-9ea4-a87ee3e6a4fa.png\"><figcaption style=\"text-align: center;\"><em>Chart via Glassnode<\/em><\/figcaption><\/figure>\n<p>The Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/report-bitcoin-whales-sold-at-least-140000-btc-in-february-as-price-suffers\/\">blog<\/a> did make note that a &#8220;sizeable portion&#8221; of the decline may be attributable to custodial wallets restructuring, however. In fact, if some of the decline is related to custodians moving coins into deep storage, there\u2019s an outside chance it could be a sign of more BTC moving into whale ownership, even the actual number of coins in whale addresses indicates otherwise. As a result, it may be difficult to label the decline in whale wallets to panic selling during crypto and macro market chop.\u00a0<\/p>\n<p>Miner outflows, meanwhile, paint a more explicitly bullish picture.\u00a0<\/p>\n<p>In a Tweet on Friday, Moskovski Capital CEO Lex Moskovski noted that Bitcoin miners \u2014 a frequent scapegoat for price dumps and boogeyman of crypto<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> \u2014 have actually begun accumulating coins as opposed to selling:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Miners have stopped selling and started accumulating <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <\/p>\n<p>Yesterday was the first day since Dec, 27 when Miners Position change turned positive.<\/p>\n<p>Miners were selling their bitcoins for two months.<\/p>\n<p>Bullish. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/S89iBcz4k3\">pic.twitter.com\/S89iBcz4k3<\/a><\/p>\n<p>\u2014 Lex Moskovski (@mskvsk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mskvsk\/status\/1365557599358320642?ref_src=twsrc%5Etfw\">February 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Likewise, there <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>ears to be good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> in regards to institutional accumulation. Ki Young Ju, the CEO of CryptoQuant, noted that the quantity of BTC in exchange wallets continues to drop \u2014 a sing he believes points to continued institutional demand:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Another significant Coinbase outflows at 48k. US institutional investors are still buying <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>I think the major reason for this drop is the jittering macro environment like the 10-year Treasury note, not whale deposits, miner selling, and lack of institutional demand. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/wzwkwMhJWx\">https:\/\/t.co\/wzwkwMhJWx<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/1uEEF8SX5Q\">pic.twitter.com\/1uEEF8SX5Q<\/a><\/p>\n<p>\u2014 Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1365237480631398407?ref_src=twsrc%5Etfw\">February 26, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, some recent research indicates that the institutions hoovering Bitcoin may not have as much an impact on the price as originally thought. What&#8217;s more, indicators suggest that retail mania has hardly even begun \u2014 a sign that the latest pullback may only be temporary, and the next push is where FOMO will really it.\u00a0<\/p>\n<p>At the time of writing Bitcoin is trading at $46,750, down 2% on the day.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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 News 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\/institutions-and-miners-accumulating-through-bitcoin-chop-whales-uncertain\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Institutions and miners accumulating through Bitcoin chop; whales uncertain &#8221; After a violent price reversal last week that saw Bitcoin retreat from all-time highs, traders and analysts are now eyeing major players and investors to gauge BTC\u2019s next move \u2014 and so far the reaction is decidedly mixed. Data from on-chain analytics firm Glassnode&#8230;<\/p>\n","protected":false},"author":1,"featured_media":190439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvN2I1MjVlNzItOWE4MS00N2Y2LTg3N2EtMGU5NTk4ZDkzMmI5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74937,74860],"class_list":["post-190438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-bitcoin-price","tag-cryptocurrency-exchange"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190438","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=190438"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/190438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/190439"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=190438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=190438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=190438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}