Bitcoin Whales Accumulate 83,100 Tokens, Price Up 11%

On-chain data indicates that large Bitcoin investors, known as sharks and whales, have been actively accumulating the cryptocurrency as its price approaches its all-time high. These investors, holding between 10 and 10,000 BTC, have significantly expanded their holdings recently. This range translates to holdings worth between $1 million and $1 billion at current exchange rates, making these investors influential in the market due to their substantial control over the supply.
The on-chain analytics firm Santiment highlighted this trend, showing that the supply distribution for sharks and whales has been increasing. Over the past month, these investors have added around 83,100 tokens to their wallets. Initially, there was a period of selling, likely due to profit-taking after BTC's recovery beyond $97,000, which resulted in a pullback for the cryptocurrency. However, with the renewed bullish momentum, these large investors have resumed their accumulation and surpassed their previous holdings, showing no signs of profit-taking.
Interestingly, investors holding less than 0.1 BTC have been selling during this period, which could indicate their belief that the market is nearing its peak. Despite this, the accumulation by large investors suggests that it may only be a matter of time before Bitcoin reaches its coveted $110,000 all-time high, especially considering the recent pause in U.S. and China tariffs.
At the time of writing, Bitcoin is trading around $103,800, marking an 11% increase over the last seven days. This price trend aligns with the accumulation activities of sharks and whales, further supporting the potential for a new all-time high. The sustained buying by these large investors is a bullish sign for the rally's sustainability, as it indicates strong confidence in Bitcoin's future performance.

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