Bitcoin Whales Accumulate 2,014 Addresses Holding 1,000-10,000 BTC, Price Surges 9.48%

On-chain data provider Glassnode has reported a significant surge in the number of addresses holding between 1,000 BTC and 10,000 BTC, reaching 2,014 from 1,944 as of March 5. This increase marks the highest level of large Bitcoin holdings since April 2024, indicating a notable rise in large-scale and institutional adoption of Bitcoin.

The recent weeks have seen a more rapid increase in the number of large addresses holding over 1,000 BTC, with a total of 2,014 wallets now holding substantial amounts of Bitcoin. This trend suggests that Bitcoin whales are gradually returning to the market, following the recent resurgence in the price of the leading cryptocurrency. As of the latest reports, Bitcoin is trading at $84,084, reflecting a 9.48% increase over the last seven days.

The renewed interest from whales is evident in the increasing number of massive transfers within the Bitcoin ecosystem. Recent reports include a significant Bitcoin withdrawal of over $84 million from a major cryptocurrency exchange, further validating the growing speculation that high-net-worth investors are adopting Bitcoin as a long-term strategy. These investors aim to leverage the ongoing positive momentum to acquire large quantities of BTC ahead of a possible rally, ultimately maximizing their gains.

Blockchain tracking firm Whale Alert also spotted a massive Bitcoin transfer involving 1,000 BTC from a major U.S. crypto exchange to an unknown wallet on April 15. This transfer adds to the evidence of significant activity among Bitcoin whales, who are likely positioning themselves for potential future price movements.

Historically, periods of high whale accumulation have preceded strong bullish rallies in the crypto markets. Given the current trend, Bitcoin holders are anticipating a potential rally if history repeats itself. The surge in whale accumulation to levels last seen in April 2024 suggests an imminent breakout in the price of Bitcoin, further fueling optimism among investors.