Blockchain analytics firm centiment10 newcomers holding 10,000 BTC or more in the past three months Bitcoin whale addressHe stated that he was on the move again.
This corresponds to a 12.7% increase compared to late October when whale addresses were at their lowest. According to Santiment, while it was 79 in October, this number has jumped to 89 as of now. What makes this rise important is Santiment’s statement that many of these addresses may be new addresses.
🐳 In the past 3 months, 10 new #Bitcoin whale addresses have reappeared that hold 10k or more $BTC. This is a 12.7% increase from the 9-year all-time low amount of mega whale addresses that were recorded in late October. https://t.co/XxxWNnm7sL pic.twitter.com/CWzcrnG1Pf
— Santiment (@santimentfeed) January 17, 2022
Bitcoin price has been on a steady decline since hitting an all-time high of $69,000 on November 10. However The resurgence of the whale address holding more than 10,000 BTC is interpreted as a result of long-term BTC holders coming back to expand their holdings of BTC. In other words, it is seen that the number of large investors (especially institutional investors) who trust and accumulate Bitcoin is increasing.
Big crypto investors, colloquially known as “whales,” are accumulating Bitcoin amid the steady price action. In addition to all this, the steady increase in long-term investors in contrast to the decline seen in early 2018 is also an important indicator of solid interest in Bitcoin that still continues to be a positive catalyst.
Every time the price drops, the whales take action and patiently hoard the assets left behind by the small investors fleeing because no fall in the crypto world is permanent!