Fresh blockchain data shows that over the past 10 days, the biggest bitcoin whales have finally started buying once more as the price of BTC has soared higher. The Santiment published a smaller analysis according to which some large bitcoin holders have been buying more seriously in recent weeks. The BTC supply distribution indicator shows us exactly who is starting to buy bitcoins.
Bitcoin whales are finally back
In terms of big bitcoin whales and sharks, wallets with 10-100 coins, 100-1000 coins and 1000-10000 coins are usually monitored. These names mean how many coins are in a given wallet. The 10-100 coin wallets contain a minimum of 10 and a maximum of 100 coins. According to Santiment’s chart, the proportion of bitcoin supply in 10-100 coin wallets has been steadily increasing over the past 10 weeks. By the way, they are the sharks, they have increased their wealth by 105,600 bitcoins in the last 10 weeks.
Holders of 100-1000 coin wallets added 67,000 bitcoins to their assets in the last 8 weeks. They are the smaller whales, but they are a very serious part of the entire bitcoin sector. It is not possible to know for sure whether the increase in the exchange rate started because of their purchases or because of other factors, but it is certain that these transactions also contributed to the fact that the price is now below 21,000 bitcoins. The holders of the 1,000-10,000 coin wallets are the big whales, who mostly sold rather than bought in the past year. However, in the last 10 days, they also started buying and increased their wealth by 37,100 bitcoins. So these three groups have been shopping quite seriously in the last two to three weeks. So the outlook is pretty positive right now, but that might change in no time if the biggest whales decide to sell all the coins once more.
