Whale Watching: The Aggregate Whale Balance Sees Record Drop

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app for today's chart of the day. We are doing some whale watching according to glass, no data. When isolating for coins flowing between whale entities and exchanges, the aggregate whale balance has declined by around 255,000 Bitcoins since the end of May. This is the largest monthly balance decline in history. You'll see it hit negative 140 8000 Bitcoin per month on the right side of this chart. Glass note notes that across all whale groups, there is a net reduction of around 8700 Bitcoin over the last month suggesting a high possibility that whale entities could be moving funds internally or reshuffling. So why is it so important to watch whales while the amount of crypto by whales can influence price trends. When whales make big moves, waves can be seen throughout the market. Whale entities include exchanges and large centralized holdings like ETF products and corporate holdings like micro strategy. That's it for today's chart of the day. I'm Jenn Senai and we'll see you next time. To unpack more of the data behind top news stories.