Retailers Accumulating Bitcoin – Whales are distributing

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The price of bitcoin has maintained its stability, with little obvious and consistent movement in any direction since the beginning of the year.

Altcoins are trading flat, while XRP continues to amaze with its price rises.

Bitcoin’s price has failed to make any significant and sustained move in either direction over the last 24 hours, and it is currently trading at approximately $39,000, practically unchanged from yesterday’s closing price.

Putin’s Effect

Following reports, Russian President Vladimir Putin confirmed yesterday that there had been progress in the negotiations with Ukraine. As a result, the market saw a 3.6 percent surge in less than an hour, with the price of Bitcoin reaching a high of $40.2 thousand dollars.

For the most part, the cryptocurrency market was equally dull in the last 24 hours, with a few notable exceptions,

Unfortunately, the market was split too thin, and the gains were erased with the opening of the next hourly candle, reflecting the current level of fear in the marketplace.

Retailers Buying Bitcoin -Bitcoin Whales are Cautious

According to data supplied by Ecoinometrics, an on-chain analytics platform, there are two separate accumulation/distribution trends in the Bitcoin (BTC) ecosystem at the moment.
Wallets with less than one bitcoin (BTC) are buying; whales, on the other hand, are remaining cautious.

More cautious are the largest bitcoin (BTC) holders, known as “whales,” who each control 1,000-10,000 bitcoins (BTC). For the past 30 days, the most prominent Bitcoiners have been handing out their tote bags.

Accounts with balances of less than one bitcoin (BTC) are an example of the first type. They’ve been purchasing Bitcoins (BTC) since the beginning of the third quarter of 2021, and their balances have increased by approximately 10%.

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