BTC: These indicators signal HODL behavior, but a decisive daily close…
Bitcoin fell under the $41K mark on 21 April, at press time, it was down by 4.27% over the last day. In fact, the whole cryptocurrency market retreated to $1.88 trillion mark.
Well, still very high. Dominant buyers continue to acquire more Bitcoin despite the price witnessing a correction. On-chain data provider Santiment reported that whales were accumulating during the recent price drop under $40,000.
Source: Santiment
Looking at the graph, the analytical platform noted:
“Bitcoin whale addresses holding 100 to 10k $BTC have collectively accumulated 18,104 more $BTC since the April 10th price drop below $40k. However, their holdings are still down substantially since October. Meanwhile, USDT buying power looks promising.”
Indeed, the holdings declined a bit but a major chunk still continues to add value despite the volatility. On the other hand, Bitcoin spot exchange reserves reached their lowest levels in over four years, according to data from Crypto Quant published on 21 April. This was another bullish development for the BTC holders.
<p lang=«en» dir=«ltr» xml:lang=«en»>$BTC Spot Exchanges' Reserve hits over a 4-year lowLive Chart
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