There's no shortage of demand for Bitcoin, even at $50,000, as big buyers dwarf smallholders in the latest stage of the bull run.
Bitcoin (BTC) whales and institutions alike have made the most of the recent BTC price "dip" by buying big, data suggests.
In an update on March 9, on-chain analytics service Material Indicators noted that buy orders of $100,000 and higher on Binance — the biggest cryptocurrency exchange by volume worldwide — are reaching all-time highs.
Big Bitcoin buyers don't hesitate
In stark contrast to orders worth less than $100,000, larger buys are more frequent than ever before in Bitcoin's history.
Smaller allocations have plummeted in 2021, matching an existing narrative that institutions are scooping up liquidity on exchanges which surfaced during the recent bull run.
"The $100k - $1M class is now also about to make a new ATH," Material Indicators commented on Twitter alongside a chart.