Santiment, a crypto analysis platform, reported that amidst the ongoing high volatility in the market, addresses holding between 10 and 10,000 BTC might have entered an accumulation phase again in recent weeks. According to Santiment’s data, these addresses have added more than 154,000 BTC to their portfolios in the past seven weeks, and the total BTC they hold has surpassed 13 million. This number represents about 67% of the average total supply.
Will The Crypto Market Continue to Rise?
Applications for Spot Bitcoin ETFs by major asset management companies like BlackRock and WisdomTree have made a significant impact on the crypto market. Bitcoin (BTC), during this process, has managed to surpass the $30,000 price level in a short period, and the crypto market has caught a strong upward momentum. There have been significant increases in the total market value of the crypto ecosystem, and market volatility has significantly increased.
Santiment, on the other hand, shared updated data and statistics on the recent accumulations of addresses holding between 10 and 10,000 BTC amidst this ongoing high market volatility.
Is Bitcoin Preparing for a New Rally?
The crypto analysis platform, Santiment, reported that addresses holding between 10 and 10,000 BTC could be accelerating their accumulations recently. Santiment suggests that the increased accumulation by the whales might largely be due to the impact of the Spot Bitcoin ETF trend in the market, sharing their updated data and statistics.
According to the data shared by the crypto analysis platform Santiment, addresses holding between 10 and 10,000 BTC have added more than 154,000 BTC to their portfolios in the past seven weeks, and the total BTC held by these addresses has exceeded 13 million. This number currently represents about 67% of the average total supply.
