A remarkable shift in sentiment and activity has been spotted among Bitcoin’s large investors also known as whales, especially wallet addresses holding more than 100 BTC in spite of recent price fluctuations, sparking discussions about the next trajectory of BTC’s price.

A Sharp Uptick In 100+ Bitcoin Addresses

Recent reports from advanced investment and on-chain data platform Alphractal show that the number of Bitcoin wallet addresses holding over 100 BTC has risen significantly, reflecting a growing accumulation of the digital asset among large-scale investors.

Despite recent waning market performances, the rise in 100+ BTC addresses highlights increased confidence in Bitcoin’s long-term potential, which is often considered a bullish indicator. This is because the development might reduce the amount of Bitcoin in circulation, thereby prompting price increases in the long term.

Data from Alphractal reveals that while the number of addresses with more than 100 BTC has increased significantly in the last few days, the number of addresses holding over 10,000 BTC has been gradually declining. This shift cited within a period of accumulation is consistent with the general market optimism over the potential of the crypto asset.

It is important to note that institutional players, miners, sharks, and others are often considered owners of addresses with 100+ BTC. Meanwhile, crypto exchanges, funds, whales, and long-term

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Author: Godspower Owie