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The number of Bitcoin holders has reached historically high values
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The number of Bitcoin holders has reached historically high values

Feb 21, 2024

A recent data study revealed a significant increase in BTC accumulation among large holders. According to information disclosed by CryptoQuant CEO Ki Yang Ju, the influx of bitcoin to investor addresses has reached an all-time high of 25,300 coins.

The analysis of the increase in the number of holders is carried out on the basis of certain criteria. Wallets with at least 10 BTC in the account, the absence of outgoing transactions, and addresses associated with centralized exchanges or miners are excluded from consideration. In addition, wallets that have accepted more than 2 incoming transactions and have been active for the last 7 years are analyzed.

Historical data provided by the analyst indicates that the accumulation of BTC at addresses reaches a peak just before the price of the main cryptocurrency rises. This increase in coins on wallets indicates a deliberate effort by large holders to accumulate bitcoin reserves in advance of the price increase, and not at the time of reaching market highs.
The strategic accumulation of cryptocurrency observed among investors highlights the complex dynamics of the digital asset market. As BTC continues to attract the close attention of users and analysts, such models provide valuable information about the behavior of the asset and possible future price movements.

Meanwhile, analysts note the outflow of bitcoin from the wallets of centralized exchanges. Experts attribute this to growing optimism among investors, who predict further price increases caused by the wider acceptance of BTC and the adoption of spot Bitcoin ETFs. However, analysts also recall the collapse of FTX and Celsius, as well as the legal problems of the Binance exchange, which could be catalysts that encourage users to withdraw funds from trading platforms in order to ensure security and compliance with regulatory requirements.

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