Bitcoin Whales Increase Holdings as Price Stabilizes Around $71K
- Large Bitcoin wallets, holding between 10 and 10,000 BTC, now control 68.17% of Bitcoin’s total supply, up from 68.07% a week ago.
- Bitcoin is currently trading at $71,350, reflecting a 6.30% increase over the past week.
- The Crypto Fear & Greed Index remains in “Extreme Fear” at 16, indicating investor caution.
- US spot Bitcoin exchange-traded funds (ETFs) saw their first five-day inflow streak of the year, totaling approximately $767.32 million.
- Retail investor activity may signal potential market trends as wallets with smaller holdings are decreasing.
The shift in accumulation by large holders suggests a bullish sentiment in the market despite ongoing retail caution reflected by the Fear & Greed Index. If this trend continues, it could indicate a transfer of assets from weaker to stronger hands.
As Bitcoin’s price holds steady around $71K and whale activity increases, large wallets are controlling more than two-thirds of the total supply, highlighting significant market dynamics at play.
