Bitcoin whales are not accumulating as the leading cryptocurrency struggles to break the $30,000 price mark. The number of whale wallets has been declining since April. In contrast, the count of shark wallets (holders of 1 to 100 coins) has been increasing. There is a strong correlation between whale activity and BTC’s price, suggesting that a rally in whale holdings might be necessary for BTC to surpass $30,000. Despite the market’s sideways trading, BTC remains a profitable investment with an average profit of 48% if all holders were to sell at the current price. It is important to note that the content should be treated as informational and not investment advice.
AI Sentiment: Negative