Analysis: Retail Investors Did Not Short the Bitcoin Rally This Time, Whales Accumulated a Large Amount of BTC Around $66,000
BlockBeats News, May 10th: Cryptocurrency analyst Murphy posted a message indicating that retail investors did not overwhelmingly short the current Bitcoin trend. He pointed out that addresses holding less than 1 BTC saw a balance increase of 23,074 BTC in the past 30 days and showed three significant accumulation phases near $66,000, $70,000, and $80,000. Murphy believes that most of the retail investors still in the Bitcoin market during this cycle are experienced "old players" who have been through altcoin and contract cycles.
At the same time, whales holding over 10,000 BTC started accumulating massively around $66,000, with a peak balance increase of 140,699 BTC in the past 30 days, marking the largest net growth in nearly two years and demonstrating clear accumulation behavior. Murphy stated that the market always tends to move towards lower resistance levels, and with stronger support below the current levels, the price naturally tends to continue upward until it encounters stronger resistance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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