CryptoCurrency

149,127 Bitcoin Addresses Maintain at Least 10 BTC

An increase in all Bitcoin whale addresses
An on-chain analytics company called Glassnode has reported a notable increase in the overall count of Bitcoin whale addresses. At least 10 Bitcoin are currently held by 149,127 BTC addresses, the greatest number since August 2021. This is higher than the 149,120 11-month high that was recorded yesterday. The total quantity of Bitcoin whales has increased significantly since March 2022. Roughly 145,500 Bitcoin addresses had at least 10 BTC in March 2022, according to Glassnode’s data.
A significant BTC whale movement was reported by Whale Alert yesterday. The blockchain monitoring organisation released information indicating that, between 00 and 51 UTC, over 3,492 BTC—worth over $75 million—were transferred from Coinbase to an unidentified wallet.
The quantity of BTC whale addresses has increased recently, which points to a tendency of big cryptocurrency accounts building up during a downturn. Since November 2021, the cryptocurrency market cap has decreased by about 70%. Still, the digital asset market has rebounded positively during the last seven days, with BTC up 12% and Ethereum rising over 16%.
Bitcoin Comeback
Marcus Sotiriou, an analyst at GlobalBlock, commented on the recent spike in Bitcoin and the possible effects of the macroeconomic environment on the cryptocurrency market. He said: “Yesterday, Bitcoin finally received some relief, topping out at roughly $22,500, as the S&P 500 surged 1.5%. With SBF’s promise on Wednesday, there is some newfound hope that the worst of the liquidity crisis might be over.
For me, the only reliable indication of the bottom of Bitcoin is a steady stream of data demonstrating a clear downward trend in inflation. In a recent research note, Sotiriou said, “This could lead to the Federal Reserve becoming less aggressive with their monetary policy and thus provide reassurance that the liquidity crisis in the crypto market is over.”

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