Recent data shows that whale addresses holding 10 to 10,000 BTC have accumulated 1% of the total supply, leading to new discussions on potential market impacts.
Impact of Bitcoin Whales on Supply Structure
According to Santiment data, Bitcoin whale addresses have accumulated 0.9% of circulating supply, which amounts to 1% when considering the total 21 million supply. This trend over the past four months highlights an increased interest from major market participants.
Market and Current Consequences of Accumulation Trends
The accumulation by whales has not resulted in immediate price changes. On July 31st, Bitcoin briefly dipped below $116,000 but quickly rebounded to $117,365. The data suggests that large holders may influence volatility and liquidity.
Future Speculations and Possible Consequences
Recent observations indicate that the accumulation level reached by whales at 0.9% is significantly higher than previous levels. Many analysts remain watchful of the potential implications this could have on the market and discussions surrounding regulation.
As Bitcoin whale holdings reach 1% of the total supply, market dynamics may change. Interest in these trends continues to grow among cryptocurrency community participants.
