Total BTC Holdings in Wallets With Over 10 BTC Remain Stagnant at 16.16 Million

IconCryptoNewsTerminal Staff17 Jun, 2024

cryptonews.jpg

Total BTC Holdings in Wallets With Over 10 BTC Remain Stagnant at 16.16 Million

Santiment, a cryptocurrency on-chain analysis platform, has reported that as of June 16, 2024, the total BTC holdings of wallets with more than 10 BTC stand at 16.16 million, the same level as it was two years ago on June 16, 2022. This observation highlights an interesting correlation between the number of wallets with substantial BTC holdings and the overall value of the Bitcoin market. Notably, around the same period in 2022, when BTC holdings reached a similar milestone, the price of Bitcoin experienced a significant surge of approximately 226%. Santiment suggests that the buying behavior of addresses with more than 10 BTC often serves as a leading indicator of potential price increases. This stagnation in BTC holdings among large wallets could indicate a period of consolidation or uncertainty within the cryptocurrency market. However, it is crucial to monitor future developments and market movements to determine any potential implications for Bitcoin's price trajectory.

Related News