According to data from blockchain analysis company Glassnode, whales with positions above 10,000 Bitcoins have been accumulating BTC throughout the price range of $25,000 to $32,000, with a peak monthly position change of about 140,000 for this group BTC/month, their balances have increased by +306,358 BTC since their all-time high in November 2021.
Glassnode believes that the Bitcoin BTC 4.70% market has entered a stage that coincides with past bear market cycles, with prices barely remaining above the total cost reflected in the realization price, and the fundamentals of on-chain transaction volumes have further deteriorated. Historically, this Phases take anywhere from 8 to 24 months.
