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This Is How Investors Take Positions in Bitcoin

According to data from crypto analytics firm Santiment, whales holding BTC, the largest cryptocurrency, have been emptying their pockets for the past 1 year.

The cryptocurrency market led by Bitcoin has been experiencing the winter season for about 1 year. Bitcoin (BTC), which broke the historical record by rising to $ 69,000 in November of 2021, has fallen from those days until the summer of 2022. The Bitcoin market has been flat in the $18,000-22,000 range since the summer.

Crypto analytics firm Santiment has done a series of research on how crypto whales and small investors are positioned in this process. According to data from Santiment, Bitcoin whales have been emptying their pockets since October 2021. Whales had almost half of the Bitcoin supply in October 2021. The blue line on the chart represents wallets holding 100 to 10,000 Bitcoins. Whales have made regular sales from last year to the present. The total supply in their hands fell from 50% to 45.

The red line represents investors holding less than 10 Bitcoins. It seems that the small players of the market did not give up buying while Bitcoin was losing value constantly. Small investors own 15% of the BTC supply. It can be said that the decrease in the supply of whales gives a positive signal for the price.

Morgan Stanley: Purchased Bitcoins Not Used

Morgan Stanley, one of the largest banks in the USA, recently published an interesting report on Bitcoin. According to the bank, 78% of BTCs purchased in the last 6 months have never returned to the market. Morgan Stanley analysts think that it is not possible for BTC to show a serious rise for now due to the demand of most of the investors. According to analysts, when Bitcoin reaches the $ 22,300 level, a new selling pressure may come. However, although there is uncertainty in the short and medium term, if we look at the big picture, these levels are thought to be low or close to the bottom levels. Because in the following process, especially at the end of 2023 and at the beginning of 2024, the price is expected to run to record levels again with the effect of Bitcoin halving.

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