149,127 Bitcoin addresses hold at least 10 BTC
Glassnode, a chain analysis platform, recently highlighted a sharp increase in the total number of Bitcoin whale addresses. 149,127 BTC addresses now have at least 10 Bitcoin, the highest level since August 2021.
The previous 11-month high of 149,120 was observed yesterday. Since March 2022, the total number of Bitcoin whales has increased significantly. Glassnode’s data show that approximately 145,500 Bitcoin addresses had at least 10 BTC in March 2022.
Yesterday, a significant BTC whale movement was highlighted by Whale Alert. According to the details shared by the blockchain tracking company, some 3492 BTC worth more than $ 75 million moved from Coinbase to an unknown wallet. The mentioned transfer was performed around 00:51 UTC.
The recent increase in the total number of BTC whale addresses indicates the accumulation trend of leading cryptocurrencies in the bearish market. The crypto market value has declined by almost 70% since November 2021. However, the last seven days have witnessed a decent improvement across the digital asset market as BTC climbed by 12% and Ethereum saw a price jump of about 16%.
Bitcoin recovery
Commenting on the recent jump in BTC and the potential impact of the macroeconomic situation on the crypto market, GlobalBlock analyst Marcus Sotiriou said: “Bitcoin finally saw some relief yesterday, peaking at around $ 22,500 as the S&P 500 climbed 1, “There is a certain renewed optimism that the worst liquidity crisis may be behind us after SBF’s reinsurance on Wednesday.”
“The only Bitcoin bottom signal for me is sustained data that shows us that inflation is convincing on the way down. This should result in the Federal Reserve becoming less aggressive with their monetary policy, and therefore give confidence that the liquidity crisis in the crypto market is over,” he said. Sotiriou added in a recent research note.
Glassnode, a chain analysis platform, recently highlighted a sharp increase in the total number of Bitcoin whale addresses. 149,127 BTC addresses now have at least 10 Bitcoin, the highest level since August 2021.
The previous 11-month high of 149,120 was observed yesterday. Since March 2022, the total number of Bitcoin whales has increased significantly. Glassnode’s data show that approximately 145,500 Bitcoin addresses had at least 10 BTC in March 2022.
Yesterday, a significant BTC whale movement was highlighted by Whale Alert. According to the details shared by the blockchain tracking company, some 3492 BTC worth more than $ 75 million moved from Coinbase to an unknown wallet. The said transfer was performed around 00:51 UTC.
The recent increase in the total number of BTC whale addresses indicates the accumulation trend of leading cryptocurrencies in the bearish market. The crypto market value has declined by almost 70% since November 2021. However, the last seven days have witnessed a decent improvement across the digital asset market as BTC climbed by 12% and Ethereum saw a price jump of about 16%.
Bitcoin recovery
Commenting on the recent jump in BTC and the potential impact of the macroeconomic situation on the crypto market, GlobalBlock analyst Marcus Sotiriou said: “Bitcoin finally saw some relief yesterday, peaking at around $ 22,500 as the S&P 500 climbed 1, “There is a certain renewed optimism that the worst liquidity crisis may be behind us after SBF’s reinsurance on Wednesday.”
“The only Bitcoin bottom signal for me is sustained data that shows us that inflation is convincing on the way down. This should result in the Federal Reserve becoming less aggressive with their monetary policy, and therefore give confidence that the liquidity crisis in the crypto market is over,” he said. Sotiriou added in a recent research note.
