Bitcoin Whales Surge Amid Market Trends
Rising Interest in Bitcoin
Despite a bearish trend in the cryptocurrency market, Bitcoin continues to attract significant interest from high-profile investors. The number of large Bitcoin holders, often referred to as whales and sharks, has reached record highs since February 2022. This represents an 8.12% increase in large wallet accounts over the past twenty months, with 11,806 new addresses added.
Significant Transactions and Holdings
Large stakeholders have demonstrated confidence in Bitcoin, with transactions exceeding $100,000 collectively nearing $37 billion. A noteworthy activity was observed over a weekend with major transactions on platforms like Coinbase and ByBit, totaling over $100 million or 4,448 BTC. This level of holding mirrors the activity seen in 2019, indicating a renewed interest in Bitcoin.
Bitcoin's Market Performance
On a recent Monday, Bitcoin traded at $27,759.75. Its 24-hour trading volume surged by 181.17% to hit $13.69 billion, marking a 3.2% daily increase and a 0.60% weekly growth. With a total circulating supply of 19.52 million tokens, Bitcoin's market cap stands at $5419.14 billion, according to CoinMarketCap.
Enduring Appeal Among Investors
The increase in substantial holdings and significant transactions underscores an active investor base for Bitcoin, even amid a bearish market. This trend highlights the enduring appeal of the first-ever cryptocurrency among high-profile investors, reinforcing its status as a key player in the financial landscape.
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