Recent fluctuations in the crypto sector have been volatile. In the past few months, Bitcoin has been working hard to get back to its $100k+ price. Bitcoin has steadily increased in value despite the increasing pressure. More than 19000 wallets hold 100+ Bitcoins. Bitcoin whales are preparing for a bigger move in the future. What do you think?
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The Bitcoin Amount is Growing Fast
Many investors are taking advantage of this current Bitcoin downturn to boost their BTC holdings. The latest Santiment reports show that Bitcoin is now at a milestone of $2,500. surpassing 20000 wallets holding 100+ Bitcoins.
Reports show that when the number of large investors increases following a price drop, this generally indicates a bullish market and tends to indicate re-distribution. The report also shows that the BTC Whales are lining up portfolios to express their confidence in BTC assets.
“Bitcoin is about to hit a milestone, surpassing 20,000 wallets with at least 100 $BTC. A wallet with 100 or more Bitcoin is currently worth a minimum of $6.78M, and they’re obviously going to be largely owned by very high net worth individuals, funds, long-term holders, or institutions. When this number rises during or after price declines (like it has been), it can be considered a bullish sign. However, the overall percentage of supply has interestingly not significantly risen from key stakeholders just yet. This is why prices have stayed suppressed. If the number of 100+ BTC wallets is growing, that suggests distribution across more large holders rather than a small group controlling everything. In that sense, it points to less extreme consolidation at the very top.”
As Whales become more common, their status will also increase.
Santiment’s report also reveals a brand new insight: that the growing wallets of different entities are a sign they have achieved a “whale” status. Status.
“However, it also shows that wealth is concentrated into strong hands compared to smaller retail wallets. So it is not a sign of decentralization at the smallest level. But it does show that more separate entities are reaching “The Whale” status.”
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Source: watcher.guru
