Bitcoin Whales Accumulate Amidst Market Stability
Over the past 20 months, the number of large Bitcoin holders has increased by 8.1%, according to Santiment data. This uptick follows the bearish market of 2022, with significant Bitcoin transactions and price stability now highlighting positive market sentiment. Bitcoin has witnessed a notable rise in the number of addresses holding at least 10 BTC, indicating an accumulation trend. Santiment data reveals that an additional 11,806 investor accounts have joined the ranks of large Bitcoin holders in the last 20 months, marking an 8.1% increase in large wallets since February 2022.
Recent market activities were marked by two significant Bitcoin transactions on Sunday, as reported by WhaleAlert. These transactions symbolize market fluctuations involving over $100 million USD. The first transaction involved the transfer of 2,818 BTC, equivalent to $75.8 million USD, from an unspecified wallet to Coinbase. The second transfer witnessed 1,630 BTC, valued at $43.8 million USD, moving from Bybit to an undisclosed wallet.
Bitcoin's price has also shown stability with slight daily increments. Currently, Bitcoin (BTC) is hovering around the $28,000 USD mark, just days after dipping below $27,000 USD. According to CoinGecko data, these trades come with a trading volume of $10.7 billion USD over a 24-hour period following a 4% price increase.
Additionally, IntoTheBlock figures assess the average purchase price of these tokens and compare it with the current price, revealing that 67% of holders are currently in profit. The In The Money indicator shows that 10% of holders are at the break-even point, while 22% of holders are currently in a loss position.
In summary, the increase in large Bitcoin wallets and recent substantial transactions suggest a trend of accumulation. Bitcoin's stability and positive market sentiment, along with a majority of holders in profit, indicate a reassuring outlook amidst market fluctuations.
Recent market activities were marked by two significant Bitcoin transactions on Sunday, as reported by WhaleAlert. These transactions symbolize market fluctuations involving over $100 million USD. The first transaction involved the transfer of 2,818 BTC, equivalent to $75.8 million USD, from an unspecified wallet to Coinbase. The second transfer witnessed 1,630 BTC, valued at $43.8 million USD, moving from Bybit to an undisclosed wallet.
Bitcoin's price has also shown stability with slight daily increments. Currently, Bitcoin (BTC) is hovering around the $28,000 USD mark, just days after dipping below $27,000 USD. According to CoinGecko data, these trades come with a trading volume of $10.7 billion USD over a 24-hour period following a 4% price increase.
Additionally, IntoTheBlock figures assess the average purchase price of these tokens and compare it with the current price, revealing that 67% of holders are currently in profit. The In The Money indicator shows that 10% of holders are at the break-even point, while 22% of holders are currently in a loss position.
In summary, the increase in large Bitcoin wallets and recent substantial transactions suggest a trend of accumulation. Bitcoin's stability and positive market sentiment, along with a majority of holders in profit, indicate a reassuring outlook amidst market fluctuations.
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