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Large bitcoin holders often referred to as whales, staged a cryptocurrency sale at several trading floors in early November. However, they were never able to provoke a deep fall in the value of BTC.
According to the Santiment team, sales in early November were marginal, so they failed to break the long-term and positive trend. Overall, in October, addresses holding between 10 and 100,000 bitcoins purchased 92,000 coins.
Over the past five days, the reserves of large investors have increased by 2.1% (+43,000 BTC), according to an analyst review. During the same time, the cryptocurrency was able to soar in price by 15%.
Whales send cryptocurrency to offline storage. Other categories of investors adhere to the same tactics. Bitcoin exchange balance is now at its lowest since early 2019, according to Glassnode. There are 2.445 million BTC stored on trading platforms, which is approximately 6.3% of the total cryptocurrency supply.