Number of Wallets With 10+ BTC Rising Rapidly

IconCryptoNewsTerminal Staff10 Jul, 2024

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Number of Wallets With 10+ BTC Rising Rapidly

The latest cryptocurrency market data from Santiment indicates a potentially bullish signal. According to the platform, the number of "whales" and "sharks" in the Bitcoin market has been increasing, while smaller traders continue to sell their holdings. Specifically, the number of wallets holding more than 10 BTC has increased by a substantial 261 since the beginning of July. This accumulation by larger players is a trend that has been observed in previous bull markets and could signal a long-term positive outlook for Bitcoin. It's important to note that while this increase in whale and shark activity is a positive sign, it does not guarantee a sustained bull market. However, it does suggest that there is significant interest in Bitcoin at these levels and that larger investors are accumulating the asset. This could provide support for the price in the coming months.

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