It’s no longer news that most Bitcoin wallets are now in profit. What seems to be trending now, is the number of investors owning at least 1,000 BTC – hitting a record high, as data retrieved from Glassnode, a crypto analytic firm, revealed Bitcoin Number of Addresses Holding 1k+ coins just reached an ATH of 2,257.
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- Previous ATH of 2,256 was observed earlier today.
- Metric Description: The number of unique addresses holding at least 1k coins.
- At the time of drafting this report, Bitcoin traded at $18,456.68 with a daily trading volume of $32,979,859,228.
- BTC price is up 0.0% in the last 24 hours.
- It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.
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Whales could be anticipating a strong medium to long-term Bitcoin price trend, and are choosing to hold on to BTC in expectation of a bull market.
Much of the recent increase can be attributed to wealthy entities withdrawing their BTC from the exchange. Apparently, this is not new wealth – rather, it represents a change in the way Bitcoin whales are choosing to hold their coins.
From a macro level, this increase in the number of BTC whales can be considered bullish.
READ: Bitcoin whale transfers $105 million worth of crypto, BTC trading at $15,800
Bottom Line
Nairametrics believes the increased buying pressures by such investors are partly responsible for the non-dilutable crypto recent highs.
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