In recent days, a notable change in the behavior of large investors, or 'whales', in the Bitcoin market has been observed. This shift may herald a potential price correction.
Shift to Selling Among Major Players
According to data, large investors appear to have transitioned from accumulation to distribution of their assets. This may signal an intention to sell some of their holdings following a recent surge.
Accumulation Trend and Glassnode Data
The Accumulation Trend Score from Glassnode exhibits a declining interest among major investors. Particularly, the score for whales with assets over 10,000 BTC has dropped to 0.4, indicating they have begun to take sell positions.
Bitcoin Flows to Exchanges
Even though whales had not been withdrawing BTC to exchanges over the past month, they have started depositing assets back to exchanges in recent days. This movement typically precedes sales.
As Bitcoin continues to trade close to its all-time highs, the changes in whale behavior create further signals about a potential correction in the market.
