According to data from analytics platform Santiment, the number of Bitcoin wallets with a balance of more than 100 BTC reached a 17-month high in August. According to experts, the increased activity of whales is a positive signal for the market.
Santiment noted that retail traders are disappointed with the price of Bitcoin, but the number of Bitcoin whales has grown – 283 new wallets with a balance of more than 100 BTC appeared in August. At the same time, the number of addresses with a balance of 10 BTC or more (“sharks”) is also increasing.
Historically, large purchases by major market participants often preceded a new maximum for the first cryptocurrency, experts noted.
In their opinion, the growth in activity of large holders of the first cryptocurrency is due to the fact that small traders continue to dump their assets, as they feel discomfort from the current situation with the cost of bitcoin.
Earlier, CryptoQuant experts stated that a rare positive correlation had formed between Bitcoin and altcoins. According to experts, most assets move in sync with the first cryptocurrency.
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Source: Cryptocurrency
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