• BTC and wBTC whales have been more active than usual in recent weeks as BTC prices continue to rise.
• Long-term holders have reached a breakeven point, signaling a strong bull trend, but a price correction may be imminent.

This week has seen a significant influx of Bitcoin [BTC] whales as the price of BTC continued its ascent. Yet, the growth in whale behaviors did not originate with Bitcoin on the network alone, but rather with wrapped versions on other networks. The present upswing has also shifted the playing field for long-term investors.

Read Bitcoin’s [BTC] Price Prediction 2023-24

BTC and wrapped wBTC whales on the rise

Throughout the past weeks, both BTC whales and Wrapped Bitcoin [wBTC] whales have been more active than usual. According to Santiment, the number of transactions made by BTC whales had climbed over the past several weeks, and as of this writing, had surpassed 13,000. The number of wBTC transactions has also been growing in recent weeks, with over 100 of them as of this writing.

For BTC, the level of whale activity was at its greatest point in the previous 16 weeks. The whale transaction count was also on the rise for wBTC, reaching its highest level in 15 weeks. Whale transactions are often transactions that total

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Author: Suzuki Shillsalot

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