Santiment: Whales Carried Bitcoin Up!

Breaking the $20,000 mark last week Bitcoin (BTC)has excited cryptocurrency investors again. on-chain In its new report, data provider Santiment sought a clear answer to the question of why BTC rose above $20,000 again.

In the light of the on-chain data they examined, experts found that whales increased their BTC purchases last week.

Buying Bitcoin from Whales!

According to Santiment’s research, whales have had a major impact on BTC’s price action over the past two months.

📈 A definitive explanation on why #crypto prices have bounced:

🦈10-100 $BTC wallets added 105,600 #Bitcoin in past 10 weeks
🐋100-1,000 $BTC wallets added 67,000 #Bitcoin in past 8 weeks
🐳1,000-10,000 $BTC wallets added 37,100 #Bitcoin in past 10 dayshttps://t.co/sGLqJLxGVD pic.twitter.com/kpQimOXmeO

— Santiment (@santimentfeed) January 14, 2023

According to the report, small whales (10-100 BTC) prevented the cryptocurrency from falling below $16,700. Analysts have found that small whales have received 105,000 Bitcoins in the last 10 weeks.

Then medium-sized whales (100-1,000 BTC) bought 67 thousand Bitcoins in the last 8 weeks, bringing the price to $ 18,000.

Finally, the big whales (1,000-10,000 BTC) recently bought 37,100 BTC, pushing the price above the $21,000 level.

Price Prediction from Turkish CEO of CoinShares!

Meltem Demirors, CEO of Europe’s largest crypto investment group CoinShares, made a price prediction for Bitcoin in a statement on a television channel.

Demirors does not expect Bitcoin to exceed 25-30 thousand dollars within the year. According to the CEO, although the sales pressure is now decreasing, there is no significant thesis to exceed this figure.