U.Today: One specific group of Bitcoin holders has been
covertly growing their holdings as the price of the cryptocurrency lingers near
pivotal levels in early 2025.
The behaviour of various-sized Bitcoin wallets on the network was recently
analysed by on-chain analytics company Santiment, which, taken as a whole,
produces a pretty neutral signal for the coming weeks for the cryptocurrency
market.
Santiment claims that since January 1, 2025, Bitcoin whales holding 10 and
10,000 BTC have amassed 2,997 BTC, demonstrating a greater level of optimism
for the cryptocurrency's long-term future.
According to the report, this class of holders (10–10,000 BTC wallets)
benefited most from the previous bull surge since they made large
accumulations, while others panicked and tried to time the tops. Since October
1, these have amassed an incredible 257,000 Bitcoin, and since November 5, they
have amassed 199,000 Bitcoin. Their accumulation levels have somewhat decreased
since the year's end. But since January 1, 2025, they have added 2,997 BTC.
A growing number of Bitcoin wallets
Santiment also looks into how other Bitcoin wallets behave. Between October 13
and December 27, the 0.1-10 BTC wallet layer dumped an incredible 84,521
Bitcoin, mostly driving price hikes and the whale and shark bag. But since
then, 5,604 BTC has been added to these wallets.
Wallets with values between 0 and 0.1 Bitcoin show a similar trend. These small
traders were consistently taking profits, frequently too early, throughout the
recent bull run that lasted from October to December 24. The latter days of
2024 marked the conclusion of this dumping pattern. They have put a meagre 585
BTC back into their bags since December 29 in an attempt to "buy the
dip." But compared to their usual movements, this is almost flat.
Santiment also looks at the rise in nonempty Bitcoin wallets. There was a net
decrease of little over 130,000 Bitcoin wallets from October 13 and the end of
2024, which gave plenty of reason for the subsequent bull run. There has been
some expansion since then, with 84,700 more wallets.
Bitcoin was trading at $96,107 at the time of writing, up 5.97% over the
previous day.
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