Bitcoin Whales Surge: Large BTC Holdings Hit Highest Level Since April 2024
Bitcoin Whale Addresses Reach New High
The number of Bitcoin addresses holding between 1,000 and 10,000 BTC has surged to 2,014, marking the highest level since April 2024, according to Glassnode data. This represents a 3.5% increase from 1,944 addresses as of March 5, indicating growing institutional and large-scale adoption.
Whale Accumulation Intensifies
The recent uptick in whale activity suggests that high-net-worth investors are increasingly adopting Bitcoin as a long-term strategy. This accumulation trend has coincided with Bitcoin's price resurgence, which has climbed 9.48% over the past week to $84,084 at press time.
Large BTC Transfers on the Rise
The Bitcoin ecosystem has seen significant transfers recently, including an $84 million withdrawal from a major exchange and a 1,000 BTC transfer to an unknown wallet. These movements highlight whales' growing interest and their strategy to accumulate BTC ahead of a potential price rally.
Implications for the Market
This level of whale accumulation last seen in April 2024 preceded a strong bullish rally. With Bitcoin's price showing renewed strength, market participants are optimistic about a potential breakout, driven by increased institutional confidence and large-scale buying activity.
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