Number of Bitcoin Whales Increases as Investors Buy the Dip
CryptoNewsTerminal Staff07 Aug, 2024
Number of Bitcoin Whales Increases as Investors Buy the Dip
Cryptocurrency analyst and trader Ali Martinez has released a new report analyzing the number of Bitcoin addresses holding over 100 BTC. The report found that the number of these addresses has increased by 93 from 15,913 to 16,006 during the recent correction period. This increase indicates that whale investors are taking advantage of the bear market to buy Bitcoin at a discount. This is a bullish sign for the long-term prospects of Bitcoin, as it shows that there is still strong demand for the asset even at lower prices. Martinez's report also found that the number of addresses holding between 1 and 10 BTC has also increased during the recent correction period. This suggests that smaller investors are also accumulating Bitcoin at a discount. This is another bullish sign for the long-term prospects of Bitcoin, as it shows that there is widespread interest in the asset at all levels.
