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Fish food? Data shows retail investors are buying Bitcoin, whales are selling
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Bitcoin (BTC) staged an impressive recovery after dropping to its three-month low of $42,333 on Dec. 4, rising to as high as $51,000 since.
The BTC price retracement primarily surfaced due to increased buying activity among addresses that hold less than 1 BTC. In contrast, the Bitcoin wallets with balances between 1,000 BTC and 10,000 BTC did little in supporting the upside move, data collected by Ecoinometrics showed.
"Bitcoin is still stuck in a situation where small addresses are willing to
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