Large bitcoin holders have been the main buyers in the $80,000 range
Bitcoin whales have been the primary accumulators near the $80,000 price level while smaller investors are selling.Summary
Data from Glassnode indicates that large Bitcoin holders, specifically those with 1,000 to 10,000 BTC, have been the dominant buyers since the cryptocurrency's price bottomed near $80,000 in late November. The 1,000-10,000 BTC cohort shows sustained accumulation, reflected by an Accumulation Trend Score near 1, suggesting they are acquiring assets at a price level Bitcoin has not recently frequented. This contrasts sharply with smaller holders across all cohorts, who are exhibiting distribution, likely due to capitulation amid sustained 'fear' or 'extreme fear' readings on the Crypto Fear and Greed Index. While the largest whales (10,000+ BTC) were aggressively buying near $80,000, their buying has slowed recently, though they are not yet distributing, unlike when BTC topped $100,000 mid-year.
(Source：CoinDesk)