Number of Whales falls with risk aversion increasing.🚨 

The number of whales on the Bitcoin network is a metric that can be impacted by UTXO consolidations or institutional movements in funds. 

However, it also has a direct relationship with market sentiment among institutions. 

At the moment, there are around 1669 whales with more than 1K BTC in reserves, a number that reflects a large part of institutional allocators. 

With the latest FOMC coming more hawkish than expected, allocators are now looking to reduce exposure in risky assets and cryptocurrencies are experiencing significant selling pressure.