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Bitcoin (BTC) whales are continuing to rise from the price dip level, having bought an additional 53.6 thousand BTC in the last 4 weeks, creating a significant impact on the market.
Bitcoin whales, that is, addresses holding between 10 and 10,000 BTC, hold 67.77% of the total supply. According to data released by Santiment, these wallets continued to increase their holdings despite the price fluctuations that occurred in April. Since March 22, these addresses have purchased an additional 53,652 BTC.
Recently, as the price of Bitcoin approaches the $85,000 level, the accumulation by these large wallets is drawing attention. This movement by the whales could spark a greater desire to buy in the market. These wallets, which hold a significant portion of Bitcoin's supply, may have a decisive impact on the price.
The accumulation of Bitcoin by whales in this way provides clues about the future direction of the market. These large wallets are often seen as long-term investors, which enhances Bitcoin's strength as a store of value.
#CryptoObservers#
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