Recent data indicates that the number of addresses holding more than 100 BTC has hit a record high, reflecting growing confidence among large holders.
The Meaning of Whale Accumulation for the Market
The increase in the number of addresses holding more than 100 BTC suggests a significant level of confidence among institutional investors and long-term holders. When large holders begin accumulating Bitcoin, it is often seen as a bullish signal. This accumulation typically results in a reduction in Bitcoin circulating supply on exchanges, which can lead to upward price pressure if demand remains stable or increases.
Is the Market Preparing for the Next Bull Cycle?
The rise in holdings among major investors could indicate the early stages of a new bull cycle. With Bitcoin ETFs gaining traction and halving on the horizon, analysts believe this might signify the onset of price growth for Bitcoin.
Conclusion
The data shows that Bitcoin whales are not selling; they are accumulating. This ongoing trend is one to watch closely, as it may signal broader price movements in the Bitcoin market.
The increase in the number of addresses holding more than 100 BTC underscores the confidence of significant market players and may impact Bitcoin's price dynamics in the future.
