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When the inflows on the stock exchange become so high, it is usually a sign that the whales are getting out of BTC. This is no surprise given the bad mood that has plagued the market recently. If you look at the charts, investors could struggle with low prices for another year.
Of course, the whales, which have a large share in the BTC market, are trying to get out in order to avoid further losses. This is supported by the relative unrealized gain of Bitcoin, which has reached a new 18-month low at 0.462. This means that investors take a profit with them. Coupled with the number of Bitcoin addresses hitting a new 18-month low, it’s no surprise that more holders are cashing out their winnings.
Interestingly, however, retail investors seem to be buying Bitcoins. The number of addresses holding 0.01 BTC in their accounts reached a new all-time high on May 8. This now stands at 9,977,201 Bitcoin addresses that hold more than 0.01 BTC in their account.
The daily transactions have also remained in this range. The data shows that the trend continues with a daily average of 233,892 transactions on May 8. This corresponds to a value of about 30 billion dollars, which is the average since the beginning of the year. Nevertheless, the falling Bitcoin price continues to scare investors.
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