CoinDesk·4 min read·medium
Bitcoin's 'strongest hands' are back, on-chain data show
O
Omkar Godbole
✦AI Summary
On-chain data indicates that large Bitcoin holders, known as 'whales,' are accumulating significant amounts of the cryptocurrency while smaller retail investors sell. Analysts suggest this supply rotation often precedes major price movements, potentially signaling a bullish trend.
The number of wallets holding at least 10,000 BTC has climbed back to 90, a six-month high, according to analytics firm Santiment. Over the past eight weeks alone, the count of these “whale” wallets has risen by six, a 7.1% increase.
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