As Bitcoin price staggers, ‘whale’ wallets may be becoming an endangered species

Cointelegraph

Published May 14, 2021 01:17PM ET

Updated May 14, 2021 03:00PM ET

As Bitcoin looks to recover from a stomach-churning dip on the back of a strong bid this morning, on-chain data indicates that high net worth ‘whale’ wallets may not be part of the effort.

Bitcoin — along with most crypto markets — suffered a staggering series of losses this week following a string of negative Tweets from the world’s second-richest man, Elon Musk.

BTC net exchange inflows. Source: Glassnode
Whale wallets October 2020-April 2021. Source: Glassnode

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