Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows
Summary
Newcomer whales are buying 200,000 BTC weekly. Short-term holder whales' demand has decreased but remains strong. Short-term holders are those holding BTC for less than 155 days, while long-term holders hold for longer. Whales hold over 1,000 BTC and their behavior can influence the network. The 7-day SMA of Bitcoin STH whale exchange outflows spiked earlier, indicating high demand. Despite a decline since the all-time high, STH whales are still buying around 200,000 BTC weekly. BTC price is stagnant at around $61,600.
