🚀⚠️Transfers from large Bitcoin investors to Binance have decreased as prices have risen, indicating lower sales. The realized capitalization of Bitcoin grew by 3%, reaching 30 billion dollars in April, although it is still below the peak levels observed in November and December. The number of long-term BTC holders also decreased again in May, suggesting an increase in spending by this group. The price of Bitcoin (BTC) fell by 0.5% to 103,600 dollars on Wednesday due to the decline in the cryptocurrency market. Despite the increase in spending among long-term holders, transfers from large investors to Binance have observed a decrease, indicating a shift towards accumulation.

Large investments in Bitcoin are being held even as the supply of long-term holders decreases. In the last month, Bitcoin inflows to the addresses of large investments to Binance have been steadily declining. In April, 5 billion dollars in inflows from large investors were recorded on the exchange, coinciding with the recovery of the Bitcoin price. This figure dropped to 3 billion dollars in May as a result of a decrease in activity among large holders. This group may be holding positions while inflows of large investments decrease. Meanwhile, retail inflows grew from 12 billion to 15 billion dollars, although they remain below the market peak. The realized capitalization of Bitcoin increased by 3% monthly in April, adding 30 billion dollars, according to Glassnode. Selling pressure from large investments has decreased. This suggests that buying activity for Bitcoin has grown, contributing to its recent price increase. The gain in realized capitalization is below the rapid accumulation observed in November and December, indicating that market momentum has not fully recovered. The supply of long-term investors fell again in May, reversing the increase that had been observed in mid-March. This suggests an intensification in spending by this group. If this noticeable change in retention behavior holds, Glassnode may be facing a local peak in the market. Bitcoin could experience a decline if this trend persists.

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