The data on the blockchain shows that Bitcoin whales are now holding 25.16 percent of all the Bitcoins. Their net accumulation is continuing.
Bitcoin investors with 1,000 to 10,000 BTC have continued to buy recently
Data from On-Chain Analytics firm SantimentSince the beginning of the year, BTC whales are accumulating more than 266,000 BTC. Here, the indicator is “Supply DistributionThe “Bitcoin Supply” chart shows the amount of Bitcoin that is currently circulating and the number of wallets in each group.
Addresses are divided by the amount of coins in each wallet. For example, the 10 to 100 coin group includes wallets with a balance between that amount and $100. own At least 10 BTC and at maximum 100 BTC.
Supply Distribution calculates how much each investor in the group contributes to supply.
In the present discussion, we are primarily interested in the 1,000-10,000 BTC group. This cohort’s lower limit at current exchange rates is $65m, and its upper limit $650m.
The group is known for its massive investors. “whales.” They can influence the market because they are able to move large quantities quickly. This is why their behaviour can be interesting to watch.
The whales go beyond this group’s upper limit of 10,000 BTC, and at that scale, other entities, like exchanges, come into play. These aren’t normal investors.
This chart shows the Bitcoin Supply Distribution trend for the 1000 to 10,000 coin group in the past couple of months.
Source:| Source: Santiment on X
The Bitcoin Supply Distribution of this important investor group, as shown in the graph above, has seen a net increase over 2024. The whales purchased 266,000 BTC (about $17.2 billion) during this time.
This accumulation, however, has not been constant. The chart shows that the whales bought in after the initial rally, which led to the new asset high. They then sold in again when the decline was complete.
BTC’s supply has also increased as it has been consolidating. The latest shift in this metric is still to the positive, suggesting that the massive holders may be backing the current recovery drive.
The 1,000-10,000 coin group now holds 25,16 % of supply. That means more than one quarter of Bitcoin is in the wallets and purses of large investors.
Investor sentiment, while bullish on whale-buying, may not be the same as it is now. The data from the “Weighted SentimentThe chart shows that investors have FOMO for the asset.
Historically, Bitcoin tends to go against expectations. Therefore, FUD/fear is the perfect catalyst for uptrends. In contrast, FOMO/greed has led to the most probable tops.
BTC Price
Bitcoin was trading around $64,700 at the time this article was written, an increase of more than 7% in the last week.
It looks like the price has reversed some of its recent gains over the last couple of hours.| Source: BTCUSD on TradingView
Featured Image from Vivek Kumar on Unsplash.com. Chart from TradingView.com.
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