$DOGE đ„đ„đ„ Bitcoin whales now add just 1% to their BTC holdings per month: đłđłđł
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đą Bitcoin large-volume investors have slowed their BTC accumulation to a crawl versus the run-up to all-time highs earlier this year.
Bitcoin needs more demand to hit a new all-time high, new research says, as whale accumulation slows to a crawl.
In its latest weekly report seen by Cointelegraph, onchain analytics firm CryptoQuant says that âmostâ demand metrics currently show weakness.
Bitcoin whales ditch the FOMO
Bitcoin is still not a strong enough buy to attract the kind of investment that could send it to all-time highs.
According to CryptoQuant, larger BTC investors â equated to whales â have slashed the pace at which they accumulate coins since the most recent all-time high in March.
âHistorically, a monthly growth rate of more than 3% in whale holdings has been associated with increasing Bitcoin prices, which is not the case at the moment.
Daily net inflows to the spot ETF products are just a fraction of their March tally, with last weekâs daily average coming in at 1,300 BTC.
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