According to crypto analysis firm Santiment, a “whale market” continues to be seen in BTC after the recent price increase in Bitcoin. Since September, BTC whales have stockpiled a total of $4,800,000,000, according to data from Santiment.
Santiment, which made a statement on its Twitter account, between 100 and 1000 bitcoin found that stocking whale addresses had accumulated 85,700 BTC worth $4.78 billion since September.
According to the firm, these whales hold 21.3% of the total supply of Bitcoin, which is a record rate for Bitcoin.
Bitcoin (BTC) is trading at $57,679, up about 20% in a week and about 33% in the last fourteen days, according to data from CoinGecko.
According to Santiment data, these whales now have the power to control the bull market in Bitcoin. Blockchain analyst William Clemente said on Twitter that 85.1% of Bitcoin supply has not been “moving” for at least three months; According to the analyst, this inactivity is the highest level in the last three months.
Long-term investors don’t want to sell right now, according to crypto analytics firm Glassnode. These investors are still waiting for the price to reach its peak and want to make the highest profit.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.