Bitrabo Editorial
Bitcoin Sharks & Whales Steadily Accumulating
Recent on-chain data analysis by Santiment reveals a consistent trend of accumulation amongst the BTC sharks and whales, known for their substantial holdings in the Bitcoin market. The “Supply Distribution” metric highlights the percentage of total Bitcoin supply held by specific wallet groups based on their coin quantities.
The focus primarily lies on investors holding between 10 to 10,000 BTC, a range covering influential entities like sharks and whales. These holders, particularly whales, play a significant role in the market due to the size of their investments, making their behavior crucial in influencing Bitcoin’s price trajectory.
The analytics firm’s data illustrates a continuous uptrend in Bitcoin holdings by these large investors, despite recent market fluctuations. Even amidst a bearish market, the Supply Distribution for the 10 to 10,000 coins group has displayed a notable increase, indicating confidence and resilience among major holders.
Santiment suggests that the tokens acquired by sharks and whales are likely sourced from smaller investors holding less than 10 BTC, who might be selling to capitalize on market conditions. This accumulation trend reflects positive sentiment within the Bitcoin community, although vigilance is advised to monitor any potential shifts in holding patterns that could impact the market sentiment negatively.
Current BTC Price
As of now, Bitcoin is priced at approximately $60,100, representing a 2% decline over the previous week.