• Around 48 new whale wallets returned as Bitcoin climbed over $43,000.
• New addresses continue to enter the network, but the rate has declined.

 Bitcoin [BTC] has continued its price uptrend, reaching a new high for the year. As it enters this uncharted range, wallets that previously secured profits are now actively accumulating again.

Bitcoin addresses resume accumulation

The recent surge in Bitcoin prices has rekindled the accumulation activity among certain wallets.

According to the data from Santiment, these wallets had significantly accumulated during a period when the BTC price trend was relatively flat.

The accumulation persisted as the BTC price climbed, reaching a peak of over 16,000 wallets around 9th November.

However, the number sharply declined afterward, settling around 15,900. This decrease suggested that these wallets had liquidated their holdings, corresponding to a BTC price surpassing $37,000.

Following the sell-off, the wallets resumed accumulation as the BTC price continued its ascent. By 5th December, the number of wallets nearly reached its previous peak of 16,000 once again.

The rise coincided with when the BTC price surpassed the $41,000 mark. As of the latest update, the count was around 15,900, indicating a downward trend.

These movements suggest that wallets holding 100 or more BTCs are strategically navigating market highs and lows to maximize profits.

New entrants?

As existing Bitcoin wallets resumed their accumulation, there was a notab

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Author: Adewale Olarinde

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