Renowned cryptocurrency analyst Willy Woo took to Twitter to share a few Glassnode charts that reveal Bitcoin (BTC) is performing well despite its low hashrate rate and China’s pressure on miners.
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The first chart shared by Woo reveals a sharp increase in the supply of Bitcoin in the hands of crypto whales holding wallets with 1000 to 10000 BTC.
Bitcoin whales continue to buy Bitcoin from the bottom, ignoring negative news from Chinese and world central banks.
Another chart from Glassnode shared by Woo shows a huge increase in the number of Bitcoin holdings. Woo adds that the number of Bitcoin users currently hits an all-time high for 2021.