According to a recent report by crypto analytics firm CryptoQuant, more than 28,000 BTC ($2.6 billion) were accumulated by big players in the crypto market. According to the CQ, these accumulated addresses consist of Over-the-Counter (OTC) trading desks, major institutional investors, and long-term HOLDers.
The move is bullish for the premier digital currency as these wallet addresses aren’t associated with spot cryptocurrency exchange accounts and are a sign of long-term accumulation. In other words, more than $2.5 billion worth of BTC was taken off the market, which can considerably affect market pressure in the coming weeks.
