CryptoQuant analyzed that the recent movements of Bitcoin whale addresses are showing a similar trend to the early stages of the 2022 bear market. According to Decrypt, CryptoQuant explained, “Based on on-chain data, the BTC holdings of whales holding 1,000 to 10,000 BTC have shown a decreasing trend over the past year. Also, the accumulation rate of so-called ‘dolphin’ addresses holding 100 to 1,000 BTC is slowing down.” They added, “The BTC trading volume of whales is also showing a decrease, which is similar to the pattern observed at the beginning of the 2022 bear market. On the other hand, the holdings of long-term holders (LTH) recorded an all-time high of 15.8 million BTC, which could also suggest a slowdown in the inflow of new market participants.” Meanwhile, in the 2022 bear market, BTC rose to $47,450 in March before falling to $15,742 in November of the same year.
