Within the Bitcoin market, there are a number of aspects that can be analyzed, so this time glassnode has decided to give us a closer look at what transactions currently dominate.
A pleasant surprise was the finding that there is currently a clear trend in the market, namely the dominance of transactions exceeding $1 million. According to analysts, the dominance of whales carrying out these large transactions has increased from 30% to 70% of the total value transferred since last September.
What also needs to be added is the fact that it was at the end of July, when we witnessed a decline of $29K, that the largest increase in these transactions was recorded.
If we look at the development of small transactions, the exact opposite trend applies here.
As you can see in the chart, small transactions of less than $1 million have fallen from 70% dominance to 40/30%, which, as analysts themselves have confirmed, means that a new generation of high-capital institutions is entering the market.