CRYPTO

As the number of bitcoin whales increases, BTC follows new all-time highs


Even after the rise in the price of bitcoin whales, the pace of their savings tour is not slowing down. Bitcoin has now hit $ 62k for the first time in five months and the market is delighted with this milestone. With more growth expected in the coming weeks, investors are making sure they don’t miss out on what digital assets have to offer in terms of value.

BTC is now a real internet store of value, so investors are entering the property. This has translated into higher prices for BTC. However, the majority retention is still skewed in favor of whales. These addresses, which contain 100 to 1,000 BTC in their balance, are increasing their share of total managed deliveries, and data show that the number of whale addresses containing 100 to 1,000 BTC has increased.

Related Reading | Bitcoin broke $ 60,000 before SEC ETF approval

Addresses jump 100 to 1,000 BTC 1.9%

A recent report by Sentiment found that the number of addresses in their balance between 100 and 1,000 BTC has increased over the past five weeks. A reported 254 new addresses have increased their holdings to join this class of whales, which now hold about 21.3% of the total bitcoin circulating supply.

BTC price trading north of $61K | Source: BTCUSD on TradingView.com

The 254 new addresses increased the number of these whale holders by 1.9%, indicating a feeling of greater savings among bitcoin investors in recent weeks. This is one of the fastest growing whale addresses in the history of digital assets and as purchasing pressure continues to grow, it is expected that more addresses above 100 BTC will add to their holdings.

“Numbers # Bitcoin Addresses range from 100 to 1,000 $ BTC The last five weeks have seen a significant increase. 254 of these whale addresses now exist compared to five weeks ago, a significant 1.9% increase over this short period of time. Numbers # Bitcoin Addresses range from 100 to 1,000 $ BTC The last five weeks have seen a significant increase. A further 254 of these whale addresses now exist compared to five weeks ago, a significant 1.9% increase in this short period of time. – Sentiment report

Most of the bitcoin holders are profitable

The profit margins seen from Bitcoin investors have contributed to the patterns accumulated in the assets. Glasnod reports that most of the bitcoin holders are in profit due to the recent price increase. It is estimated that BTC has a profit of 99.02% of the entire performed supply.

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With Bitcoin at just $ 3,000 less than its previous high, the analyst firm reported that there are only 0.98 BTC in circulation that was spent at a higher price. These are currencies that were spent by investors in the 62K to $ 64K price range, and given the value of digital assets hitting new all-time highs, it may not be long before 100% BTC is introduced. Profit

Featured image from Analytics Insight, chart from TradingView.com





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