On-chain data shows that an imminent Bitcoin rally could drive its price up to $32,000, says Glassnode lead-analyst James Check.
Wrapped Bitcoin garnered DeFi traders' support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions.
The freedom to stick to what makes the most sense financially sprouted various classes of investors, each distinguished by their intent behind crypto investments.
The growth of small BTC addresses was very limited in 2022 and slumped to new lows post-FTX, but a significant surge in January suggests trader optimism is high.
There are four primary ways to track whale activities, which include monitoring known whale addresses, order books, sudden changes in market capitalization and trades on crypto exchanges.