Report Indicates More Cautious Bitcoin Purchasing Trend

Bitcoin's brutal fluctuation from over $126,000 to around $60,000 hasn't deterred buyers anticipating price appreciation. However, data from Alphractal shows a deceleration in the rate of Bitcoin accumulation by short-term holders, indicating weakening short-term demand momentum. This trend has historically preceded periods of market consolidation, increased volatility or larger regime shifts. Despite recent institutional buying, short-term holder demand hasn't strengthened. Conversely, CryptoQuant’s analysis suggests that large Bitcoin holders, or "whales," have increased their holdings by more than 200,000 BTC. Despite recent increases in whale inflows to exchanges, usually linked to short-term selling activity, the overall holdings of these large players continue to grow. They speculate that some whales may be leveraging the current 46% consolidation below Bitcoin's most recent all-time high.