According to data from on-chain data provider Santiment, whales are aggressively bitcoin started to take.
Santiment has found that small and medium-pocket Bitcoin investors are aggressively increasing their Bitcoin holdings. These wallet addresses have assets between 0.1 BTC and 100 BTC. These addresses hold 9% of the total supply. The on-chain analytics firm underlined that this is the first time this type of accumulation has occurred in history.
centimentAccording to the share of , these whales previously bought in bulk in the 2017 bull run. After Bitcoin’s 2017 peak of $20,000, they reduced their holdings and bought again at the bottom. These addresses accumulated until the end of 2020.
After falling below $20,000, Bitcoin caught the attention of whales. According to reports, whales invest with long-term price expectations, but they are pretty bad at short-term forecasts.
🦈 Small to mid-sized #Bitcoin addresses (0.1 to 100 $BTC) have been on one of their most aggressive accumulation cycles in history, adding 9% to their holdings in just the past 6 months. Read about them, $ETH, $LTCand $ADA in our latest community post. https://t.co/jCNKcW8te1 pic.twitter.com/EBaanqNqk5
— Santiment (@santimentfeed) January 3, 2023
NEWS CONTINUES BELOW
Whales Focus On These Two Altcoins Alongside Bitcoin
According to the report, whales of similar size have also been around for the past few years. Ethereum is buying. They only sold in March 2019, when ETH hit over $150, and then in 2020, when the price exceeded $500. They have been buying since the ETH price dropped in 2021.
Despite the current Bitcoin and Ethereum backlog, whales have been selling since Cardano’s $1.3 peak in 2021. The sales made in the intervening time mean that the interest in the ecosystem has decreased.
Koinfinans.com As we have reported, Santiment drew attention to a different data on 31 December. The data reveals that addresses holding 10 to 10,000 Bitcoins are selling aggressively.