The total holdings of large and medium-sized Bitcoin holders have increased to 15.2 million, the highest level since January 2022
The total holdings of large and medium-sized Bitcoin holders have increased to 15.2 million, the highest level since January 2022.
- Over the past six weeks, this group has bagged over 71000 coins.
- BTC hit $28000 earlier this week and retreated to the $27000 range.
Despite the tepid market sentiment, Bitcoin [BTC] holders have not given up any opportunities to increase their holdings in Bitcoin.
Bitcoin accumulation is increasing without decreasing
According to data from on chain analysis company Santiment, the accumulation of wallets holding 1-10000BTC has increased in the past six weeks. During this period, the large and medium-sized user base will receive over 71000 tokens.
In the latest flash sale, the total supply controlled by this group reached 15.2 million pieces, the highest level since January 2022. In fact, this holding is only one step away from the historical high of 15.29 million during the peak of the bull market. November 2O21.
Looking at the long-term prospects of Bitcoin?
People's belief in comparing the basic value of special coins has driven their unwavering interest in comparing them. In terms of price, for most of 2023, the king coin has remained fluctuating within a range. However, investors' attention has shifted from intense intraday fluctuations to assets that may bring long-term stability.
In addition, this is a well-known strategy where long-term investors use bear market lows to accumulate assets with strong fundamentals.
Some people may say that this trend mainly represents relatively large investors who have enough funds to easily purchase Bitcoin. However, this is not the case.
Santiment's data shows that since the beginning of 2023, the number of addresses (commonly referred to as retail investors or the public) between 0 and 0.1 BTC has steadily increased. This highlights people's clear confidence in the ownership of special currency.
Take a look at the price trend of Bitcoin
According to Santiment's data, as of the time of writing, the trading price of BTC was $27649.03, slightly higher than the price of 24 years ago. This week, the Wang coin broke through $28000 for the first time in more than six weeks.
However, this ecstasy was short-lived, as Bitcoin rebounded to the $27000 range within a few trading hours. Most market participants hope that the development of Bitcoin spot ETFs will have a meaningful impact on prices.
Meanwhile, consistent with previous observations, the supply of Bitcoin on exchanges continues to decline significantly. The circulation of BTC is about 1.12 million pieces, with only about 5.74% available for trading.
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