In April, the number of addresses having more than one thousand bitcoins has increased as whales continue to accumulate.
More than 60 new wallets of more than 1,000 bitcoins (BTCs) have appeared since the beginning of March, indicating to increase whale activity.
The number of these whale wallets has increased by 2,037 at the end of February to hit a high level of four months of 2,107 on 15 April, According To glassnode.
This has returned the metric at the levels seen in two spikes at the whale address in November and December, when the crypto markets were growing after the election of US President Donald Trump.
The all-time high for the bitcoin whale address was in February 2021, when it was less than 2,500.
According to Glassnode, to reach 18,026 on April 20, the number of addresses more than 100 BTC this year has also increased slightly. However, in the last few months, small holders with less than 10 coins have declined.
Whales continue stacking
On 18 April, Cointelagraph reported that Bitcoin whales were absorbing assets at a record rates of more than 300% of the annual release, while exchange balances were falling.
According to Glassnode, bitcoin whales holding more than 10,000 coins as buying a dip remain in the strong accumulation area.
“Whales are depositing in large quantities of bitcoin, they know what comes next,” Said Bitcoin trader ‘Mr. Crypto’ on 20 April.
Connected: The price of bitcoin comes towards the range load, but the data shows that ‘Whale is still wild’
Meanwhile, bitcoin prices appear to be out of the channel in a sidewalk starting in early March.
The assets climbed more than $ 3,000 to recover $ 87,400 on 21 April for the first time since March 28.
According to analysts, bitcoin’s breakout from a multimonous failing veg chart pattern indicates a potentially rapid reversal that can lead its price to six figures by May.
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