Bitcoin whale clusters show ‘institutional FOMO’ is behind the BTC rally
Cointelegraph
Published Nov 13, 2020 02:53PM ET
Updated Nov 15, 2020 10:40AM ET
Data shows that institutions heavily accumulated Bitcoin in the $12,000–$15,000 range, and according to analysts at Whalemap, this is a positive trend because institutions and whales typically accumulate assets with a longer-term investment strategy in mind.
The fact that larger hands are accumulating BTC instead of retail investors also explains the somewhat suppressed mainstream interest in Bitcoin, as Cointelegraph previously reported. Various metrics, including Google (NASDAQ:GOOGL) Trends, have shown lackluster mainstream demand for BTC despite its parabolic rally in recent months.
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Written By: Cointelegraph
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