Number of Medium-Sized BTC Whales Declined

The number of medium-sized Bitcoin whales has dropped to the lowest level in the last 2 years.

The number of medium-sized BTC whales has declined. On February 28, 2021, the price of Bitcoin fell to $ 43,800 in some major exchanges. While an average user predicts whether the price has seen the lowest level or not; miners and whales are sending mixed signals.   Lowest Level of the Last 2 Years Renowned journalist Colin Wu identified an interesting signal that indicates which whale group was most affected by the ongoing correction. Released a graphics through world-class on-chain analytics provider Glassnode. According to Glassnode, the addresses club holding at least 10 Bitcoins lost many of its members to others. Colin Wu found that there has been a "vertical downward trend" since the beginning of 2019, with its indicators falling to unprecedented levels. At the same time, Wu stated that some of the major "sellers", shaken by the correction, were selling their tokens for profit, despite the loss of value in double-digit Bitcoin in the past few days. BTC lost 25 percent after testing over $ 59,500 on February 22, reaching an all-time high. It is stated that in the ongoing downward trend, massive criticism from regulators may be effective.   When Will Miners Stop Sending Bitcoin To Exchanges? Even the great bullish signals cannot stop the Bitcoin price from falling. This week, New York officials struck a deal with Tether and Bitfinex. The "Tether FUD" is finally over. In addition, the US-based crypto exchange Coinbase finally shared the details of the IPO. In contrast, BTC miner pools have been on sale aggressively over the past week. CyrptoQuant's CEO Ki Young Ju stated that two large-scale sales were made in just 3 days. Glassnode noted that the sales were losing momentum. Miners are returning to deposition for the first time since December 2020.     Source: Kriptokoin.com