Institutional traders and whales, or large holders of bitcoin, were skeptical about altcoins, the report says, with the data showing a general decline in altcoin holdings among traders despite a brief rise in May. A notable decrease started in August, particularly among institutions, reflecting a cautious stance towards these more volatile assets.
Related posts
-
Potential Bitcoin (BTC) Price Rebound May Face Resistance at $65K, OnChain Analysis Shows
Notably, the decline has pushed prices well below the widely tracked aggregate cost basis of short-term... -
Bitcoin Price Spikes 5%, Can BTC Bulls Take Back Control?
Bitcoin price is up nearly 5% and there was a move above $62,500. BTC is now... -
Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs
June was much rougher for Bitcoin than many expected at the beginning of the month. This...