27 Percent of Bitcoin Supply in Circulation Clustered in 5 Places: Beware of Selling Pressure!
The number of assets of the whales holding the most Bitcoin was alarming.
Giant Bitcoin whales were included in the data transmitted by the on-chain analysis platform Glassnode. All cryptocurrency exchanges were at the top of this stacking. According to the data, the total amount of Bitcoin in all exchanges was recorded as 2.3 million Bitcoin.
US-based spot Bitcoin exchange-traded funds (ETFs) ranked second on the list. It was reported that the spot Bitcoin ETFs in question held 862 thousand Bitcoins.
Bitcoin miners were in third place. It was stated that a total of 706 thousand Bitcoins were held in these wallets. Patoshi was not included among the miners.
US government, Mt.Gox…
The US government was fourth on the list. It was stated that the government has 207 thousand Bitcoins. In fifth place was the treasury of the hacked cryptocurrency exchange Mt.Gox.
It was recorded that there are 141 thousand Bitcoins in Mt.Gox's treasury wallets. In total, 4.23 million Bitcoins clustered in 5 pieces were calculated as 27% of the circulating supply.
It was implied that parties that could create sales pressure, especially Mt.Gox and the US government, could have a negative impact on the market in the coming period.
