Bitcoin Whales Yet to Resume Accumulation: IntoTheBlock

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day according to into the block's large holder net flow indicator, addresses owning at least 0.1% of Bitcoins circulating supply have added just 3000 Bitcoin or 100 and $98 million today. This is significantly less than the net inflow of nearly 80,000 Bitcoin seen a day after March 20th dipped below $61,000. The analytics firm says large wallets or whales are good at timing the market often the best moments to accumulate or distribute coins, meaning that the indicator could offer insights into what large traders are thinking and the current trends, sustainability. The lack of whale participation in the recovery could mean that whales likely expect a deeper slide as of 9:30 a.m. Eastern time, Bitcoin was at around $66,100. That's it for today's chart of the day. I'm Jen Sani. We will see you next time to unpack more of the data behind top news stories