Bitcoin Whales Have Collected 100,000 BTC in 10 Days. What Next
- BTC is near $52,000.
- Whales have accumulated $5 billion worth of BTC in the last few days.
The value of Bitcoin is increasing [BTC] Certain wallets showed greater enthusiasm for their accumulation as they reached values that caused excitement in the market. Has the increased accumulation in these wallets impacted the number of holders?
Bitcoin whales are accumulating assets
A recent analysis of Bitcoin distribution on Santiment revealed a clear accumulation trend among certain whales.
The graph shows that the inventory of wallets with 1,000 to 10,000 BTCs increased from 24% to over 25%. The uptrend started around January 22nd and continues to this day.
In the last ten days, these wallets have accumulated around 100,000 BTC, which is approximately $5 billion. This accumulation has been the biggest trend in recent months.
This wallet category had the highest accumulation among whale wallets. These wallets accumulated Bitcoins in the expectation that the price would exceed their current levels. This is a bullish attitude.
Analysis of the number of Bitcoin users
A recent study of the number of Bitcoin owners found that there has been little movement. Santiment metrics showed that the number of Bitcoin holders has declined slightly in recent weeks.
At the time of writing, the number of BTC holders was approximately 52,000,000. This suggests that while the number of new holders is limited, current holders are actively purchasing additional BTC.
BTC holds new price level
A chart of Bitcoin on the daily time frame showed that there was no significant movement in the last two days. Despite the lack of noticeable upside, it has maintained its value at $51,000.
At the time of writing, BTC was trading at $52,000, up less than 1%. All indicators point to a strong upward trend.
Is your portfolio green? Bitcoin Profit Calculator
The Relative Strength Index for Bitcoin was above 80 at the time of writing. This indicates both a strong uptrend and a state of overboughtness. A price correction is possible from this level, but there is also potential for further upward movement.
The Moving Average Convergence Divergence (MACD) has also crossed 2000, highlighting the strength of this bull run. It’s the first time in months that these metrics have exceeded these specific points.
