There is a resurgence of 10 new Bitcoin whale addresses that hold more 10,000 BTC in last three months
According to the on-chain analytics firm Santiment, there has been a resurgence of 10 new Bitcoin whale addresses containing 10,000 BTC or more over the past three months. This represents a 12.7% increase from the end of October, where whale addresses fell to a nine-year all-time low of 79 from the previous high of 120.
Bitcoin whale, BTC large holder count, has jumped to 89
Currently, the number of large Bitcoin holders has increased to 89, as reported by Santiment. Expanding on this, Santiment states ”that these might be new addresses that hadn’t previously held above this threshold. But very often, it says, these whale addresses were previously held in the 1k to 10k range and accumulated an amount to exceed 10k or more.”
Either way, signs of consolidation within the price range over the past three months can be inferred from the data.
“In the past three months, ten new Bitcoin whale addresses have reappeared that hold 10k or more BTC. This is a 12.7% increase from the 9-year all-time low amount of mega whale addresses that were recorded in late October”, Santiment stated.
Source: Santiment
BTC has been steadily declining since hitting an all-time high of $69,000 on November 10. Bitcoin price continues to range between $41,000 and $44,000. At press time, Bitcoin is trading at $41,442, down 2.21% over the past 24 hours.
The resurgence of BTC addresses with over 10,000 BTC could result from long-term holders returning to expand their holdings. Major crypto investors, commonly known as “whales,” appear to be accumulating Bitcoin amid constant price volatility.
Regarding Bitcoin’s positive catalysts for 2022, the steady increase in holders, in contrast to the drop seen in early 2018, suggests that there is still a solid level of interest in Bitcoin. With Bitcoin, this is still a positive catalyst. The Bitcoin Hash Rate recently reached a new all-time high of 218.35m TH/s. Following the Great Mining Migration, the hash rate has recovered quickly, increasing by a whopping 252% since the June lows.
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