Bitcoin whales have been accumulating significant wealth despite prices above $30,000. Supply distribution and overbought indicators show their continued dominance. The number of whales increased after October 23, with a supply distribution of around 11.6% that spiked to over 11.8%. Despite a slight decline, the supply distribution remains at approximately 11.8%. Additionally, the Relative Strength Index (RSI) indicates a strong bullish trend. By the end of trading on October 31, Bitcoin managed to secure a profit of less than 1% and was trading at approximately $34,400. This article emphasizes that the content is for informational purposes and not investment advice.
AI Sentiment: Positive