While the price of Bitcoin has consolidated just above the $ 30,000 handle, onchain data shows that Bitcoin whales bought the dip when the price fell to $ 28,800. The statics of the Glassnode web portal show that the number of addresses with more than 1,000 Bitcoin has risen after the price low.
The number of addresses with 1,000 bitcoin spikes
According to onchain statistics, Bitcoin whales are growing with a balance of more than 1,000 Bitcoin and the most recent BTC Falling prices helped strengthen the metric. A few days before falling into the $ 28,000 zone, BTC Prices ranged from $ 35,000 to $ 38,000. The drop to $ 28,800 per bitcoin on Thursday was the lowest price drop so far this year. But the bath didn’t last long and Glassnode statistics show that the number of addresses with more than 1,000 Bitcoin has increased significantly.
– Documentation of Bitcoin 📄 (@DocumentBitcoin) January 16, 2021
A number of analysts on social media platforms spoke about the whales (over 1,000) BTC Holders) who grew after the price slump allowed them to scoop up as many units as possible.
The Bitcoin advocate continues wrote::
Coins move from the market to very strong holders who keep accumulating without selling.
Double-Dipping and the Bitcoin Rich List
The metric of 1,000+ BTC Whales partially declined in late 2020 but have increased since the two most recent price cuts. For example, crypto markets suffered heavy losses on January 10, 2021, and the price of Bitcoin fell more than 25% in 24 hours. Similar to the last price drop on Thursday, the number of Bitcoin whales with addresses with more than 1,000 Bitcoin had risen by this time.
The latest drop and whales scooping bitcoins out of weak hands are also following suit BTC Microstrategy reserve purchase announced. The company announced this week that it had bought the dip by buying 314 more bitcoins for $ 10 million in cash.
Statistics from the ‘Bitcoin Rich List’ or bitinfocharts.comThe 100 richest addresses show that there was a deep piling on Thursday. Data currently shows that there are 13,780 addresses that contain between 100 and 1,000 BTC in a single address.
In addition, at the time of publication, there are 2,345 unique Bitcoin addresses with 1,000 to 10,000 coins. There are only 100 colossal whales (10,000 to 1 million) BTC) in the crypto economy and only one address with 100,000 – 1,000,000 BTC today.
What do you think of Bitcoin whales that have amassed more coins in the last two price drops? Let us know what you think on this matter in the comments section below.
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