First image:
Bitcoin’s price dropped from $126K to $60K and is now attempting to challenge the $75K level again.
Throughout this period of volatility, large whales holding more than 1,000 BTC steadily increased their holdings.
Will this once again prove that their decision was the right one?
Second image:
This shows the total Bitcoin reserves on centralized exchanges worldwide.
Not long ago, a large inflow of BTC into exchanges from external wallets triggered fear in the market.
Recently, however, we are seeing Bitcoin rapidly flowing back out of exchanges again.
In my view, they are among the most important metrics to watch right now, and I will continue monitoring them closely.
Written by CoinNiel