Bitcoin is back at $27,000 after posting a near 2% rally in 24 hours. Trading at $27,400, BTC is up 1.7% in the 24 hours to press time, with volume up 12%.
Bitcoin’s volatility levels are rather low right now as the Bollinger Bands are converging to show less volatility. The RSI is also moving above its average line, which indicates a potential uptrend. The MACD indicator is also moving in the positive territory.
Whales shift bitcoin strategy
Significant changes were observed in a recent assessment of the degree of Bitcoin accumulation trend by Cohort, which indicates a shift in the behavior of different groups of cryptocurrency market participants.
Notably, the largest bitcoin holders, known as whales (with holdings exceeding 10,000 BTC), have moved from a phase of heavy accumulation to a more balanced state characterized by an even inflow and outflow of tokens.
While whales are showing a more careful approach to their bitcoin holdings, the situation is very different for other major equity holders in the market.
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The analysis reveals that these groups are actively distributing their coins, which indicates a broader trend of selling rather than accumulation. This transition between whales has implications for overall market sentiment and potential price dynamics.
The shift from heavy accumulations to balanced flows indicates a more cautious approach by the largest holders of bitcoin. It may indicate that these whales have reached a level of satisfaction with their current holdings.