The $BTC whales have started to gradually move from accumulation to sales
Wallet owners with at least 10,000 BTC on their balance sheet have started to distribute coins, while investors with smaller amounts continue to accumulate digital assets. This is reported by CoinDesk.
Such conclusions can be drawn by analyzing the change in the Accumulation Trend Score indicator, which reflects the dynamics of accumulation by different categories of addresses.
For owners of large wallets, the value of the indicator decreased to 0.4. The metric can range from 0 (predominance of sales) to 1 (predominance of purchases).
In April, when the price of bitcoin fell to $75,000, whales began to increase their positions. The current situation reflects the desire of market participants to lock in profits near ATH and to secure themselves in case of a further drop in quotes.
The onchain analysis is complemented by the dynamics of coin flows of large players from exchanges to non-custodial wallets. In the last three days, whales started depositing bitcoins into their accounts on CEX again, which may indicate an intention to sell assets
