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Bitcoin Retail Panic Sells—While ‘Mega Whales’ Swoop In To Buy The Dip
In recent times, the cryptocurrency market has been experiencing a rather tumultuous period. Data from Glassnode indicates that this bearish trend could be set to continue for the time being. According to a recent report by Bitcoinist, it appears as though retail investors have started panicking and selling their positions en masse.
As seen in the data, this mass selloff has resulted in the net position of holders less than 1 BTC (retail investors) dropping below 0.2 for the first time since January. This marks a significant shift in sentiment from the earlier periods where these smaller entities were not partaking in the selling frenzy.
On the other hand, the largest holders with more than 10,000 BTC (mega whales) have been exhibiting quite an opposite behavior. The data suggests that these investors are now actively accumulating and buying up the dip.
Source: https://bitcoinist.com/bitcoin-retail-panic-sells-mega-whales-buy-dip/
