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Analysis: FTX Incident Has Triggered a Clear Change in Bitcoin Investor Behavior

By Simon LawsonNovember 17, 20221 Min Read
Analysis: FTX Incident Has Triggered a Clear Change in Bitcoin Investor Behavior
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According to data from the blockchain analysis company Glassnode, the FTX incident has triggered a clear change in investor behavior.

On-chain wallet data shows that everyone from Xiami (holdings < 1 BTC) to giant whales (holdings > 1000 BTC) experienced net balance increases throughout the FTX crash. The Xiami group (holding volume < 1 BTC) added 33,700 BTC last week, +51,400 BTC in 30 days, this level of balance inflow ranks second in history, surpassing 2017 The peak of the bull market.

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Crab groups with 1 to 10 BTC -0.27%-news/">Bitcoins were equally active, withdrawing 487,000 Bitcoins from exchanges.

The balance of wallets holding between 10 and 1,000 Bitcoins has increased significantly by 78,000 BTC, which may partly reflect a mentality of withdrawing coins first and talking later. In recent weeks, whales have actually been net accumulators, with a 30-day balance change of 53,700 BTC.

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DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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Simon Lawson
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Simon Lawson has been a professional financial reporter for 6 years. He has in-depth research on the crypto industry and will release major crypto news in a timely manner.

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