The accumulation of Bitcoin between “whale” and “fish” accelerated, while BTC rose to $40,000

The accumulation of Bitcoin between “whale” and “fish” accelerated, while BTC rose to $40,000

Small but richBitcoin) Traders have accumulated a large amount of benchmark cryptocurrency during the period when their price has risen from below 30,000 to above 40,000, indicating that they are confident in the long-term bullish setting of the asset.

The basis for the upward outlook comes from the cryptocurrency-focused communications service Ecoinometrics.It’s in the latest Version A series of on-chain data track the inflow of bitcoin into the wallets of the wealthiest cryptocurrency traders (called “whales”) and the wallets of entities holding small amounts of cryptocurrency (the so-called “small fishes”).

Bitcoin accumulation trend.Source: Coin Indicator
Bitcoin accumulation trend in the past 12 months.Source: Coin Indicator
The amount of Bitcoin flowing into the whale wallet has skyrocketed.Source: Whale Map
U.S. inflation has soared beyond the Fed’s expectations.Source: Bureau of Economic Analysis and Bureau of Labor Statistics