Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit

Name	Symbol	Market	Market Cap ($)	Algorithm
Amp	AMPUSD	Crypto	90,927,260	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Amp

AMPUSD

Crypto

90,927,260

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.00163	0.00259	0.0026

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.00163

0.00259

0.0026

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00165	0.00162	0.00163	0.00163	0.001610 - 0.227000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00165

0.00162

0.00163

0.001610 - 0.227000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:34:47	37,900.00	0.00163	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:34:47

37,900.00

0.00163

USD

Price x Volume	Volume	Base Symbol	Related Pairs
159,313.19	97,312,010.41	AMP	AMPEUR	AMPGBP	AMPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

159,313.19

97,312,010.41

Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite Chance To Take Profit

30/10/2022 5:00pm

NEWSBTC

On-chain data shows the Bitcoin whales who bought around one month ago have continued to hold strong despite the price surge providing them with a chance to take some profit. Bitcoin 1 Month To 3 Month Old Supply Has Been Rising In Recent Days As pointed out by an analyst in a CryptoQuant post, the whales who bought at $19k about a month ago seem to not have realized their profits yet. The relevant indicator here are the Bitcoin supply age bands, which tell us how much coins are held by each cohort right now. These groups or age bands are divided based on the amount of time the coins belonging to them have been held stationary in a single wallet address for. For example, the 1D-1W age band includes all coins that haven’t been moved or sold since between one day and one week ago. Now, here is a chart that shows the trend in the Bitcoin supplies for some of the age bands over the past week: The data for all the different age groups in the market up to the three months old mark | Source: CryptoQuant As you can see in the above graph, the 1D-1W Bitcoin supply has been going up in recent days, suggesting there has been some fresg accumulation in the market. The less than 1D age band, however, saw some rise earlier as the price surge started, but it has been going down in the last couple of days. One significance of this group is that it reflects the fresh buying going on in the market. As this has stopped trending up, it means there is no longer many new purchases happening. Related Reading: Bitcoin Bearish Signal: Exchanges Receiving Large Deposits The quant from the post notes that a lack of new buying pressure could imply the current price uptrend is unlikely to continue in the short term. Nonetheless, there is a positive sign in the Bitcoin market as well, and it is that the 1M-3M age band has been observing an increase recently. This maturation of coins into this group has only just taken place, suggesting whales bought up this supply about a month ago. Related Reading: Why This Bitcoin Indicator Points To Bullish Double Bottom At that time, the price was around $19k, meaning that these whales now have the opportunity to sell at a profit. But as the 1M-3M supply moving sideways since the rise shows, these investors continue to hold with conviction that there will be more profitable windows ahead. BTC Price At the time of writing, Bitcoin’s price floats around $20.7k, up 8% in the last week. Looks like BTC has rebounded from the dip a couple of days back | Source: BTCUSD on TradingView Featured image from Jaunathan Gagnon on Unsplash.com, charts from TradingView.com, CryptoQuant.com

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