Analyst: Bitcoin Price Drops Below Short-Term HODLers' Average Price, Causing Market Panic, Whales Still Accumulating During the Dip

BlockBeats News, August 30th, On-chain data analyst Murphy posted on social media, stating that when the Bitcoin price fell below the short-term holder's average price of $108,000, short-term sentiment shifted from anxiety to panic. Currently, it is the weekend with low liquidity, making it prone to larger fluctuations.

For investors who remain bullish on the overall BTC trend, there has been no halt in the accumulation during the pullback. The BTC balance on the Kraken exchange significantly decreased by 41,512 BTC in the two days from August 27th to August 29th. Based on previous chain analysis, Kraken's address is closely linked to some treasury companies, traditional institutions, and OTC platforms.