Increase in Bitcoin Shark & Whale Wallets Amid Price Downtrend
- The number of Bitcoin shark and whale wallets increased by 753, marking a rise of 3.9% over the past three months.
- This increase occurred despite an overall downtrend in Bitcoin’s spot price during the same period.
- Yearly data shows a growth of these large wallets by approximately 12%, equating to an addition of around 2,148 addresses since March.
The growth in large Bitcoin holders, known as sharks and whales, suggests that significant investors are increasing their holdings even as prices decline. This trend indicates a potential bullish divergence where key market players accumulate assets during periods of volatility.
In summary, the notable rise in Bitcoin shark and whale wallets reflects increased confidence among major investors despite recent market fluctuations. Source
