Bitcoin Whales Are Buying Again: 113,950 BTC Added in 10 Weeks — What Comes Next?

Bitcoin whales are buying again as BTC▲$77,666.00 recovers from its recent lows. Bitcoin wallets containing 100-1,000 coins have added 113,950 BTC in the last ten weeks. These whales now own 5.24 million coins in total. So, their buying interest has intensified.

Meanwhile, ETFs are fuelling demand for the crypto asset. Nevertheless, it is essential to recognise that increased balances do not always reflect open-market purchases.

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Bitcoin Whales Added 113,950 BTC Since July

Bitcoin whales’ accumulation of the digital asset has intensified during the recent rally. Specifically, wallet addresses containing 100 – 1,000 BTC increased their combined BTC holdings by 113,950 over the last ten weeks.

This development is critical since these whales own a considerable amount of Bitcoin. In addition, their buying activity reduces the supply of the cryptocurrency. Therefore, it can explain, at least partially, Bitcoin’s price performance this year.

Bitcoin Wallets Holding 100–1,000 BTC Are Accumulating

Bitcoin whale wallets holding 100 – 1,000 BTC added 113,950 coins since early July. This cohort represents a significant proportion of BTC holders. Consequently, changes in their combined balances can indicate the cryptocurrency’s future price action. Notably, these investors continue to buy the digital asset despite its rising price.