Bitcoin price falls
BTCUSD
New whales continue to collect digital currencies
The supply held by new whales, defined as addresses holding more than 1,000 BTC and with an average holding time of less than six months, saw a significant increase.
Furthermore, the realized capitalization of new whales showed a consistent upward trend, rising from approximately $98.44 billion to $113.12 billion, indicating an increase of $14.68 billion.
The aggressive buildup of new whales often signals confidence in Bitcoin's near-term potential. Therefore, their increased presence and higher realized capitalization indicate that new entrants to the market are optimistic about future price increases and are willing to purchase BTC at higher prices.
In contrast, the supply held by old whales – addresses holding more than 1,000 BTC and an average holding time exceeding six months – decreased slightly.
Given the accumulation patterns observed among new whales and large holders, Bitcoin is likely to target the $80,000 mark in the near term.
