Bitcoin’s 10,000-BTC wallets hit 6-month high, what’s next?
Santiment data shows that the total number of Bitcoin wallets registered with a minimum balance of 10,000 BTC has reached 90, the highest level in 6 months, even as the smallest wallets have continued selling. Bitcoin (BTC) is trading at around $64,322 at the press time.
The divergence might provide a hint about the next market direction. Large investors are buying Bitcoin while smaller traders are withdrawing from it. According to Santiment, this pattern occurs before major price shifts in the market. Thus, the probability of Bitcoin crossing the $70,000 mark is higher than it moving below $60,000.
Six new elite wallets in eight weeks
Six wallets have crossed the 10,000-BTC threshold in the past eight weeks, lifting the size of that elite group by 7.1%, Santiment data show.
🐳 Bitcoin’s elite wallet count has bounced back to a 6-month high, with 90 wallets now holding at least 10K $BTC.
📈 This is not a tiny signal. There has been a net gain of +6 wallets holding at least 10K+ BTC in the past 8 weeks, a +7.1% rise.
🦐 Micro wallet holdings have… pic.twitter.com/c2khTjHsC5… Continue reading the full article at the original source below.
