Bitcoin traders have seen high activity recently, as evidenced by Glassnode. The volume of cryptocurrency trading surged by 75%, compared to the levels following the FTX exchange collapse in fall 2022.
On average, BTC transactions amounted to a hefty $4.2 billion per day, greatly surpassing the $2.4 billion figure observed in the earlier mentioned period.
Sharks and whales (medium and large investors) have accumulated more than 13 million BTC since mid-June, according to the Santiment team.
Their portfolios, which are valued between $300,000 and $300 million, have appreciated by approximately 71,000 BTC, with investors buying when the cryptocurrency price was under $28,000 and holding on despite exceeding the $30,000 level.
This transition of large investors to accumulation indicates the presence of a bottom, analysts opined.
In line with these observations, Bitinfocharts has revealed a drop in trader activity, with the number of blockchain transactions resolving to 506,961 per day after peaking at 600,000 at the start of July.
