🚀The Bitcoin market continues to heat up, and the number of wallets of large-capital investors surges by 10%
The Bitcoin market has been really hot recently. Big-money investors have entered the market one after another, and the number of 'shark and whale' wallets has surged by 10%. According to Santiment’s on-chain data, the number of Bitcoin addresses holding at least 100 BTC has increased significantly since the start of this bull market. This means that more and more large investors are joining the ranks of Bitcoin.
At the latest exchange rate, holding 100 BTC is equivalent to owning nearly $10.6 million in assets, which is not a small amount. Therefore, those who can enter this range are investors with strong funds. And the more tokens they hold, the greater their influence on the market.
The trends of these large players, especially their supply distribution trends, are worthy of attention. While their actions don't always directly impact asset prices, they can provide us with sentiment information about these giants.
Additionally, a Bitcoin supply distribution chart shared by Santiment shows that data in the 100+ BTC range is rising. On October 10, this indicator was 16,062 and has now risen to 17,644. In just nine weeks, there were 1,582 more shark- and whale-sized wallets.
Interestingly, many of the increases of more than 10% only occurred this month, indicating that many investors bought Bitcoin at the recent high price. As BTC prices continue to move higher, the growth of this indicator is accelerating, which is a positive sign that big-money traders believe that Bitcoin is still worth buying even at current price levels.
Bitcoin’s rally appears to show no signs of stopping, given the fear of missing out (FOMO) that has developed among large investors. The asset price once again reached new highs, this time also surpassing the $106,000 mark.
💬 What do you think of this wave of large investors entering the market? How long do you think the Bitcoin bull market can last? See you in the comments section!