On-chain data shows the number of Bitcoin holders with 10k+ BTC have grown recently, a sign of accumulation from whales. Number Of Bitcoin Whales Holding 10k Or More BTC Has Gone Up Recently As pointed out by an analyst in a CryptoQuant post, both the 1k+ and 10k+ BTC holders have observed some growth in recent weeks. Holders with 1k or more BTC are considered whales, and movement from them can have noticeable impacts on the Bitcoin market. The relevant indicator here looks at all wallets on the network to see how many own between 1k and 10k BTC and how many are holding more than 10k BTC. Now, here is a chart that shows how the holder count of these two Bitcoin whale groups have changed during the last couple of years: Looks like the 10k BTC holders have observed some very sharp growth recently | Source: CryptoQuant As you can see in the above graph, while the value of Bitcoin has been on a downtrend since November of last year, the number of Bitcoin whales with more than 10k BTC has only gone up. The 1k+ BTC holders, on the other hand, were mostly on a sideways trend until May came, where the 10k BTC whales slumped down a bit and the 1k+ holders spiked up. This could possibly be because of the former group selling off some of their supply and dropping into the 1k to 10k range. Related Reading | Ethereum Bullish Signal: 800k ETH Exits From Gemini Not long after this increase, however, the 1k+ BTC whales dropped off a...
