Interest in Bitcoin, the largest cryptocurrency asset, remains strong among investors following favorable macroeconomic and market conditions. Strong investor interest indicates confidence in… BTC’s long-term prospectswhich often precedes price increases over some time.
Whales and sharks are constantly fueling the demand for Bitcoin
Continued bullish activity has been observed among major Bitcoin investors and traders in light of the political shifts. Leading data analytics platform Santiment I mentioned This whale and shark Investors continue to accumulate BTC At a significant rate, indicating increased optimism and demand.
Data from Santiment shows that more than 1,002 coins have been collected daily through more than 10 BTC wallet addresses over the past five days to date. Santiment shared the development as the debate over Donald Trump’s inauguration is likely to be a news selling event rising in the community.
In the ongoing cycle, the cumulative effect of wallet addresses containing 10 BTC or more has dramatically changed the direction of the markets. Furthermore, Santiment has identified 5 distinct courses, where Bitcoin whales Sharks have influenced the course of the market in the past six months.
As seen between July 20 and October 11, 2024, around 164 Bitcoins were acquired per day, causing prices to fall by 7.3%. From October 11 to November 5, 2024, more than 884 Bitcoins were purchased by whales and sharks daily, resulting in a 9.8% price increase.
Also, between November 5 and December 26, Santiment highlighted that the accumulation rose to 2,060 BTC per day, causing prices to rise by more than 35.8%. Meanwhile, from December 26 to January 15, 2025, Bitcoin price It rose more than 6.2% due to these investors accumulating around 156 BTC per day.
From January 15 to the present day, the daily accumulation stands at 1,002 BTC, raising the possibility of a significant price increase. So far, Bitcoin’s price has risen 2.8% since the trend began on January 15. This is a positive indicator that important stakeholders intend to direct. Market values are in the right direction When they contribute at least 1000 BTC daily.
Will this trend cause the price of BTC to rise?
When whale sharks pile up Bitcoin Significantly, this could be a sign that investors are anticipating a rally. However, when they barely collect or hold a smaller amount of Bitcoin over a long period, it may indicate that prices will move erratically. This raises Possibility of correction phase Because there is not much wallet support.
As interest from major investors remains strong, this continued accumulation could play a pivotal role in influencing Bitcoin’s price trajectory in the near term. With prices showing the power of access New all-time high A few days ago, extended growth was likely at this point.
Santiment has emphasized this behavior as an important factor to consider in order to make more informed choices in the cryptocurrency space, especially in the ongoing cycle.
Featured image from Unsplash, chart from Tradingview.com