Bitcoin Whales Renew Confidence

- While the pace of accumulation by Bitcoin (BTC) whales has slowed, weekly net flows have remained positive for the past four months.

- According to IntoTheBlock, weekly net flows peaked at 27K BTC (about $1.7 billion) in June. In July, 19K BTC ($1.2 billion), in August 18K BTC ($1.13 billion), and in September 9K BTC ($556.9 million).

- This shows that whales continue to have confidence in BTC and is a positive sign for the market. 🐋📈

- However, the pace of accumulation is notable. This can also be seen as a negative sign for the market.

- Long-term holders currently hold 12.6 million BTC, worth $793.674 billion.

- Bitcoin is currently trading at $63,000, which is up 5% on the day and 9% on the week.