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Bitcoin’s price appears to be stuck in a relatively wide range between $18,000 and $24,000 for the past couple of months, and it’s unable to escape.
Meanwhile, data from the popular cryptocurrency analytics resource, Glassnode, revealed the average price that whales have been accumulating since January 2017.
- According to Glassnode, Bitcoin whales bought Bitcoin at an average price of about $15,800 for the period between now and January 2017.
- To be precise, these are wallets that have more than 1,000 BTC.
If we assess Bitcoin volumes flowing in and out of exchanges by Whale sized entities (>1K BTC), we can estiamte their cost basis (Realized Price).
The average price of Whale Deposits/Withdrawals since Jan-2017 is currently around $15.8K.
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