Editor's PiCK
Rise in wallets holding 1,000 to 10,000 Bitcoin (BTC)… "A sign of renewed investor confidence"
Summary
- Recent on-chain analysis reveals an increase in whale addresses holding 1,000 to 10,000 Bitcoin.
- It indicated that this suggests long-term holders and institutional investors are once again accumulating Bitcoin, reflecting a return of market confidence.
- It was also noted that such large-scale wallet growth in the past has been linked to price increases over the medium to long term.
On-chain analysis shows that the number of whale addresses holding at least 1,000 but less than 10,000 Bitcoin (BTC) is on the rise.
On the 29th, on-chain data analytics firm CryptoQuant announced via its official X (formerly Twitter) that "the number of pure holding wallets with balances between 1,000 and 10,000 BTC—excluding addresses belonging to major exchanges and miners—is once again trending upward." This is interpreted as a signal that long-term holders and institutional-grade investors are actively accumulating Bitcoin again, indicating a recovery in market confidence.
CryptoQuant emphasized, "In the past as well, this kind of large-scale wallet growth has been associated with price increases over the medium to long term."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
