Over the past three months, there has been a steady decline in the number of wallets holding Bitcoin. However, since May 21, the number of wallets holding 10 or more BTC has increased by 622.
Growth in Large Bitcoin Wallets
With Bitcoin recently reaching a high of $108,947 as it approaches the $112,000 record, the number of wallets holding 10 or more BTC is on the rise. This growth coincides with Bitcoin's aim to hit its all-time high.
Renewed Confidence Among Major Investors
The increase in whale and shark wallet activity suggests renewed confidence from larger investors. These wallets are crucial in market trends, often signaling future price movements or institutional sentiment.
Market Prepares for Next Price Breakout
The rising count of wallets containing more than 10 BTC indicates accumulation rather than distribution, which is an encouraging sign for bulls anticipating the next substantial price breakout.
The revival of large Bitcoin holders' activity may hint at future price changes. Whether Bitcoin will achieve the record of $112,000 may depend on the ongoing actions of these significant investors.
