In the past two weeks, the price of Bitcoin has surged nearly 14%, leading to a significant increase in the number of addresses holding large amounts of BTC.
Large Addresses' BTC Accumulation
According to data from analysis firm Santiment, the number of major addresses holding between 100 and 10,000 BTC has notably increased. On March 12, there were 16,600 such addresses, which rose to 17,889 by March 25. Experts consider increased Bitcoin acquisitions by these large addresses as a positive signal for the market.
Impact on Market Confidence
In the cryptocurrency market, movements by large addresses are seen as significant indicators by traders. Often referred to as “whales,” these addresses can influence the market by holding substantial amounts of BTC. The recent increase indicates that major investors are starting to accumulate Bitcoin again. Experts believe this accumulation strengthens the positive atmosphere in the market and may prompt other investors to take similar actions, potentially supporting a broader market rise.
Will Bitcoin's Price Surge Continue?
After two weeks of positive price movements, investors are questioning whether the Bitcoin increase will persist. Some analysts believe that continued purchases by large addresses could sustain the price rise. However, some analysts warn of potential short-term corrections, particularly after recent gains, where profit-taking might create selling pressure, potentially causing temporary pullbacks.
The continued buying momentum from large addresses suggests that potential temporary pullbacks may be limited and short-lived.
