transactions by whales in March coincided with a simultaneous increase in the price of BTC. Furthermore, while the number of whale addresses has been slowly increasing, the percentage of whale holdings has been on a downtrend.
This dynamic suggested that whale activity in March may have impacted the price of BTC and that the situation may continue to evolve in unpredictable ways.A recent Santiment chart examining the holdings of sharks and whales revealed that whales were accumulatingInterestingly, BTC’s price started its upward trend during this period, moving from the $18,000 range to the $20,000 range.
However, the slow pace of this increase suggested that sell pressure dominated the market compared to accumulation at press time. This may contribute to the volatility and unpredictability of Bitcoin’s price movements.on exchanges in March revealed a strong reaction to the uptrend in price. From 12 March onwards, the supply of Bitcoin on exchanges surged and continued to rise until March 22, when the price of BTC experienced a slight downtrend.
Source: Digital Coin News (digitalcoinnews.net)
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