According to Santiment, large investors or so-called “whales” continue to accumulate bitcoins.
Analysts have found that at the moment they have accumulated up to 2.2% of the total market supply of the cryptocurrency.
We are talking about investors controlling 100,000 or more BTC, the team said in a report. The number of such addresses has reached an 11-month high. The last time a similar situation was observed at the beginning of May last year.
The percentage of Bitcoin supply held by whale addresses with 100,000 or more BTC rose from 0.76% to 2.2%, reaching an 11-month high.
🐳 The percentage of #Bitcoin‘s supply held by whale addresses with 100k or more $ BTC has risen from 0.76% 11 weeks ago, to 2.20% today, an 11-month high. Meanwhile, the smaller 1k-100k $ BTC addresses have dropped from 42.4% to 39.5% in the same 11 weeks. https://t.co/D9C391kSgV pic.twitter.com/9Hih4QA0eJ
– Santiment (@santimentfeed) April 11, 2021
At the same time, Santiment reports that the number of bitcoin addresses containing between 1,000 and 100,000 coins, in contrast, has decreased from 42.5% to 39.5% in the last 11 weeks.
Bitcoin, on Monday, April 12, is trading at $ 61,000, cryptocurrency capitalization exceeds $ 1.139 trillion. The breakout of BTC above $ 60,000 at the end of last week was of great importance.
The coin finally received enough support to overcome resistance.
Volatility has exacerbated after a long lull in the market. The cryptocurrency price fluctuation index was at a five-month low. Turbulence led to an increase in the price, and not to its rollback, as some experts had previously predicted.