After a violent price reversal last week that saw Bitcoin retreat from all-time highs, traders and analysts are now eyeing major players and investors to gauge BTC’s next move — and so far the reaction is decidedly mixed.
Data from on-chain analytics firm Glassnode indicates that the number of Bitcoin whales — a term for wallets that hold between 1,000 and 10,000 BTC — has at least temporarily reversed what was previously a strong uptrend starting in April 2020, a phenomena Glassnode labeled as a potential “end of whale spawning season.”
