Bitcoin Investors Are Increasing Their Holdings, Analysis Suggests

Recent data reveals that Bitcoin whales are once again accumulating BTC, signaling continued bullish momentum in the market.

After a period of decline following Bitcoin’s peak in March, large investors are now actively buying more BTC, according to blockchain analytics.

The surge in whale activity indicates that these investors see current price levels as favorable for increasing their holdings, despite prevalent market concerns.

Analysts have observed a notable uptick in the percentage change of whale addresses holding Bitcoin over a 30-day period, coupled with a growing total BTC balance held by these influential players.

During bullish periods, whales tend to ramp up their Bitcoin purchases, while scaling back during bearish phases, according to CryptoQuant’s head of research.

After a decrease in whale accumulation in April, the rate of acquisition picked up in May, with large investors adding to their holdings as Bitcoin’s price recovered from a recent dip.

Bitcoin’s value has surged to $68,760, reflecting a 3% increase over the past week. Whales’ investments in Bitcoin have more than doubled since the beginning of the year, climbing from $57 billion to $122 billion, as measured by the realized cap metric.

Recent reports suggest that Bitcoin’s overall realized cap has hit a record high of $578 billion, highlighting the robustness of the network’s fundamentals, according to Glassnode’s lead analyst.

Despite the price spike, experts believe that the current market sentiment indicates a phase of enthusiasm rather than euphoria, suggesting that there’s still room for growth in this bullish cycle.