Key Points
- Institutional investors have accumulated over 67,000 BTC in the past 30 days, despite retail traders selling off.
- Bitcoin’s Chaikin Money Flow (CMF) indicates more selling pressure than buying pressure, despite the recent price increase.
In the past month, institutional investors have accumulated a significant amount of Bitcoin (BTC). This trend is in contrast to retail traders, who have continued to sell off their holdings.
Despite Bitcoin’s recent positive price trends, retail investors have not ceased their selling activities. On the other hand, institutional investors have been quietly accumulating Bitcoin.
Accumulation by Bitcoin Whales
CryptoQuant data reveals that institutional wallets have been amassing Bitcoin while retail investors have been selling. Over the past 30 days, institutional wallets have accumulated over 67,000 BTC, bringing their total holdings to more than 3.9 million BTC.
Retail investors’ sell-off is likely due to Bitcoin’s sideways price movement in the weeks preceding the recent uptrend. Such price stagnations often lead retail investors to lose confidence and sell their holdings, with the expectation of buying back at higher prices once market sentiment improves.
The Selling Pressure Continues
Analysis of Bitcoin’s Chaikin Money Flow (CMF) indicates that selling pressure remains dominant despite the recent price rise. The CMF is currently at around -0.04, suggesting slightly more selling pressure than buying pressure.
A negative CMF suggests that Bitcoin is still being distributed, with more sellers than buyers in the market. If the CMF moves back into positive territory, it could confirm an increase in buying pressure, potentially supporting further price growth.
Fluctuating Bitcoin Exchange Flows
Bitcoin has seen fluctuating exchange flows in the last 24 hours as its price continues to trend upward. Data shows that Bitcoin experienced more outflow in the previous trading session, with a negative flow of nearly 5,000 BTC.
This suggests a bullish sentiment as more BTC is being moved out of exchanges than in. However, the flow has turned positive again, with over 2,000 BTC flowing back into exchanges. This mixed exchange flow suggests that traders are reacting to the changing market sentiment, balancing between holding and selling as Bitcoin’s price momentum continues.