Bitcoin Big Money Moves: Whale Wallet Addresses Increase Sharply Post-BTC Rally To New Highs | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Following a sudden wave of volatility that caught the general crypto market off guard, the Bitcoin price, which had recently hit a new all-time high, has now declined to the $107,000 threshold. However, BTC’s recent rally to a new high has since triggered heightened interest in the flagship digital asset, as evidenced by a sharp increase in the count of major investors.

Large Bitcoin Investors’ Interest Soars

In the wake of Bitcoin’s explosive rally to a new all-time high, a notable performance has been observed among BTC whales, also regarded as seasoned investors. During this period of bullish movements, these large investors have steadily increased in size and accumulation of the digital asset.

Related Reading: Bitcoin Whale And Shark Investors Have Returned, And They Are Buying AggressivelyThe sharp increase in whale participants was reported by Santiment, a leading market intelligence and on-chain data platform, in a recent post on the X platform. According to the on-chain platform, this bullish behavior is mainly seen among whale wallet addresses holding between 100 BTC and 1,000 BTC.

Data from the platform reveals that the number of these big wallet addresses has grown by an additional 337 wallets in the past 6 weeks, indicating a resurgence of robust confidence and accumulation by high-net-worth investors. This kind of euphoria among big investors often implies a bullish short-term outlook for BTC’s price.

BTC whales are accumulating more coins | Source: Santiment on XIt is essential to note that no wallet tier has been more closely correlated with cryptocurrency markets over the last five years of Bitcoin’s existence than the actions of whales holding between 100 and 1,000 BTC. The increase in large-holder wallets suggests that long-term investors and institutional players may be positioning themselves for further growth, which could support the next phase of the ongoing bull market.

Santiment’s data further shows that these investors have massively accumulated BTC in the past 6 weeks. During this period, the cohort has purchased over 122,330 BTC, suggesting a strong conviction in the flagship asset’s long-term prospects.

Historically, it is shown that a surge in whale presence and buying activity has preceded significant market movements. As a result, this development might play a crucial role in BTC’s next major move.

A Rise In Optimism Among BTC Whales

Since Bitcoin gained traction, whales have been returning to the market at a noticeable rate. Glassnode, a leading data analytics platform, also reported a similar bullish trend among larger investors, particularly wallet addresses holding 1,000 BTC or more.

Related Reading: Bitcoin Mega Whales Cool Off On Buying—Trouble For Bull Rally?According to the on-chain platform, the cohort is increasing again after declining in late April. Data shows that the number of these large investors has reached 1,455 entities even as BTC’s price surged to a new all-time high days ago.

Another indication that large investors are becoming extremely bullish about BTC once again is the rise in long positions. João Wedson asserted that whales are starting to go long compared to retail investors currently, as the asset hovers above the $107,000 level.

BTC trading at $107,826 on the 1D chart | Source: BTCUSDT on Tradingview.comFeatured image from Getty Images, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.