News analysis
Bitcoin whales add coins while ETF investors withdraw, CryptoSlate reports
· By MyCryptoSignal Editorial · 354 words
CryptoSlate reports that Bitcoin whales added coins over the seven days to November 9 while spot ETF investors kept pulling money out, citing Glassnode data. Completed ETF sessions through November 10 still recorded daily withdrawals, the outlet says, leaving accumulation concentrated in larger wallets.
The CryptoSlate report draws on Glassnode's seven-day observations through November 9, which it characterises as narrow accumulation — buying confined to a limited set of holders rather than broad participation. The same report notes that completed ETF sessions through November 10 continued to record withdrawals, with money leaving the funds on a daily basis.
CryptoSlate published the piece on November 11. The article sets the two flows against each other: coins moving toward whale wallets while ETF vehicles shed holdings. The summary gives no dollar figures for either side and names no individual funds or holders. We have not independently verified Glassnode's figures.
Our own collected numbers, as of 09:17 UTC, show Bitcoin at $73,389, down 0.52% over 24 hours. The coin traded between $73,357 and $74,695 in that window and sat below its stated support of $73,444.30, with resistance at $73,588.20. The 14-period RSI read 41.4 and the trend was marked down.
The longer windows are weaker still: Bitcoin is down 8.42% over seven days and 12.27% over 30 days, which places the seven-day decline close to the stretch CryptoSlate's Glassnode observations cover. The wider market moved with it. Total crypto market capitalisation stood at $2.31 trillion, down 0.61% over 24 hours, and Bitcoin dominance was 64%. Bitcoin is the only coin in our appendix for this snapshot, so the frame is a single-asset one: the largest coin easing on the day while holding roughly two-thirds of total value.
Whale accumulation and ETF outflows describe two sets of holders moving in opposite directions across overlapping windows. Bitcoin's 7-day and 30-day declines, an RSI of 41.4 and a price below its stated support form the backdrop against which those flows are being recorded. Our appendix covers one coin, so the measured picture is narrow on both sides of the report.
Read the full story at CryptoSlate: https://cryptoslate.com/bitcoin-whales-stack-coins-while-etf-investors-dump-millions-daily
Data, not advice.
Source: CryptoSlate — see our editorial policy.