The Bitcoin (BTC) market appears to be now experiencing a concerning trend, according to the latest report from an on-chain data provider, CryptoQuant. In the report, CryptoQuant discloses a notable slowdown in the growth of whale holdings, which refers to the accumulation of Bitcoin by large-scale investors.
The report reveals that the implication of this trend may be quite negative for BTC. This is because, usually, Bitcoin whales, who hold substantial amounts of BTC, have a considerable influence on the market.
When these large holders accumulate, it generally signals confidence in the asset, often leading to price appreciation. However, the current decline in this accumulation suggests that these key market players may be becoming more cautious, raising concerns about the potential for...