Recent on-chain data indicates a significant increase in large Bitcoin wallets, suggesting heightened confidence among investors in the leading cryptocurrency.
Growth in Bitcoin Wallets Holding 10+ Tokens
According to a recent post by the on-chain analytics firm Santiment, the trend observed in the Supply Distribution of Bitcoin is noteworthy, particularly concerning its key holders.
The Supply Distribution metric provides valuable insights into the composition of Bitcoin wallets by categorizing them based on the number of tokens held. This segmentation allows analysts to assess the behavior of different groups of investors.
The category of particular interest in this analysis is the wallets that hold 10 or more tokens. Currently, the threshold for this classification equates to approximately $821,000, which means that only substantial investors are represented. Two significant groups within this category are the sharks and whales.
The market influence of these large holders is notable; their decisions can significantly affect Bitcoin’s price and overall market sentiment. Therefore, monitoring trends among these groups is crucial.
Recent data from Santiment illustrates that the Supply Distribution metric for Bitcoin wallets holding 10 or more tokens has begun to rebound after a slight downtrend observed over the previous weeks. This information is displayed in the chart below:
This turnaround suggests a resurgence in the number of sharks and whales, coinciding with recent news of a 90-day pause on tariffs announced by US President Donald Trump. This pause has alleviated previous fears in the market, contributing to a recovery in Bitcoin’s value.
In fact, over the last day, the number of wallets holding 10 or more Bitcoin has increased by 132, marking the largest gain since February 20th. This rise indicates a renewed confidence from key stakeholders in the cryptocurrency sphere.
As the market progresses, it will be essential to observe whether large investors continue to show interest in Bitcoin in the coming days.
Current Bitcoin Price
As of the time of writing, Bitcoin is trading at approximately $82,100, reflecting a decline of about 1% over the past week.
