Opinion: Bitcoin whale have not significantly increased their Bitcoin holdings.

[Opinion: Bitcoin Whale Have Not Significantly Increased Their Bitcoin Holdings] According to Mars Finance, on January 3rd, Julio Moreno, Research Director at CryptoQuant.com, shared an article stating, "Bitcoin whale are not buying large amounts of Bitcoin. Most of the ' whale data' currently seen is actually influenced by exchange address consolidation—exchanges are concentrating large amounts of assets into fewer addresses with larger balances, making it appear as if whale have recently significantly increased their Bitcoin holdings. We have a set of data that has removed all exchange addresses, and this data shows that whale holdings are actually decreasing (first chart). The same situation is observed with addresses holding 100–1,000 Bitcoins—a range typically used to represent ETF holdings (second chart)."