{"id":604938,"date":"2024-04-25T03:00:33","date_gmt":"2024-04-25T03:00:33","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=604938"},"modified":"2024-06-11T07:05:08","modified_gmt":"2024-06-11T07:05:08","slug":"bitcoin-whales-buying-hold-25-16-all-supply","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-hold-25-16-all-supply\/","title":{"rendered":"Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply"},"content":{"rendered":"

On-chain data shows that the Bitcoin whales’ holdings have grown to 25.16% of the entire supply, and their net accumulation has continued recently.<\/p>\n

Bitcoin Investors With 1,000 To 10,000 BTC Have Continued To Buy Recently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, the BTC whales have accumulated more than 266,000 BTC since the start of the year. The indicator of interest here is the “Supply Distribution<\/a>,” which keeps track of the percentage of the total circulating Bitcoin supply that the various wallet groups are holding right now.<\/p>\n

The addresses are divided into these cohorts based on the number of coins they currently have in their balance. The 10 to 100 coins group, for example, includes all wallets that own at least 10 and, at most, 100 BTC.<\/p>\n

Related Reading: Newbie Bitcoin Whales Hold 2x As Much As Veterans: What\u2019s Behind This Trend?<\/a><\/div>\n

The Supply Distribution sums up the amount that investors belonging to a particular group as a whole are carrying and calculates what percentage of the supply they contribute.<\/p>\n

The 1,000 to 10,000 BTC cohort is of interest in the current discussion. At the current exchange rate, the lower limit for this cohort is $65 million, while the upper one is $650 million.<\/p>\n

Clearly, the investors belonging to the group are quite massive, and as such, they are popularly known as “whales.” As the whales can quickly move large amounts, they have the potential to influence the market. Due to this, their behavior can be worth watching.<\/p>\n

There are whales beyond this cohort’s 10,000 BTC upper limit as well, but at such massive scales, entities like exchanges also start coming into play, who aren’t exactly normal investors.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin Supply Distribution for the 1,000 to 10,000 coins group over the last few months:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have observed a spike in recent days | Source: Santiment on X<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin Supply Distribution for this key investor group has observed a net rise over the year 2024 so far. The whales have bought 266,000 BTC ($17.2 billion) over this period.<\/p>\n
However, this accumulation hasn’t been consistent. As is visible in the chart, the whales sold into the rally that would eventually lead to the asset’s new all-time high, and they bought back in once the drawdown was over.<\/p>\n
As BTC has consolidated, so has its supply. Still, the latest change in the metric has been towards the upside, implying that these humongous holders are perhaps backing the current recovery push.<\/p>\n
Following the latest accumulation, the 1,000 to 10,000 coins group holds 25.16% of the supply, which means that more than a quarter of all Bitcoin in circulation is sitting in the wallets of these large investors.<\/p>\n
Related Reading: Is The Bitcoin Top Already Here? This Historical Pattern Says So<\/a><\/div>\n
While whale buying is bullish, the current investor sentiment may not be so. As the data for the “Weighted Sentiment<\/a>” metric attached by Santiment in the chart suggests, investors are currently showing FOMO towards the asset.<\/p>\n
Historically, Bitcoin has tended to move against the majority’s expectations, so FUD\/fear has been ideal for uptrends to start. FOMO\/greed, on the other hand, has been where tops have become probable.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading at around $64,700, up more than 7% over the past week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the asset has retraced some of its recent recovery over the last few hours | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Vivek Kumar on Unsplash.com, Santiment.net, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that the Bitcoin whales’ holdings have grown to 25.16% of the entire supply, and their net accumulation has continued recently. Bitcoin Investors With 1,000 To 10,000 BTC Have Continued To Buy Recently According to data from the on-chain analytics firm Santiment, the BTC whales have accumulated more than 266,000 BTC since the start of the year. The indicator of interest here is the “Supply Distribution,” which keeps track of the percentage of the total circulating Bitcoin supply that the various wallet groups are holding right now. The addresses are divided into these cohorts based on the number of coins they currently have in their balance. The 10 to 100 coins group, for example, includes all wallets that own at least 10 and, at most, 100 BTC. Related Reading: Newbie Bitcoin Whales Hold 2x As Much As Veterans: What\u2019s Behind This Trend? The Supply Distribution sums up the amount that investors belonging to a particular group as a whole are carrying and calculates what percentage of the supply they contribute. The 1,000 to 10,000 BTC cohort is of interest in the current discussion. At the current exchange rate, the lower limit for this cohort is $65 million, while the upper one is $650 million. Clearly, the investors belonging to the group are quite massive, and as such, they are popularly known as “whales.” As the whales can quickly move large amounts, they have the potential to influence the market. Due to this, their behavior can be worth watching. There are whales beyond this cohort’s 10,000 BTC upper limit as well, but at such massive scales, entities like exchanges also start coming into play, who aren’t exactly normal investors. Now, here is a chart that shows the trend in the Bitcoin Supply Distribution for the 1,000 to 10,000 coins group over the last few months: The value of the metric seems to have observed a spike in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin Supply Distribution for this key investor group has observed a net rise over the year 2024 so far. The whales have bought 266,000 BTC ($17.2 billion) over this period. However, this accumulation hasn’t been consistent. As is visible in the chart, the whales sold into the rally that would eventually lead to the asset’s new all-time high, and they bought back in once the drawdown was over. As BTC has consolidated, so has its supply. Still, the latest change in the metric has been towards the upside, implying that these humongous holders are perhaps backing the current recovery push. Following the latest accumulation, the 1,000 to 10,000 coins group holds 25.16% of the supply, which means that more than a quarter of all Bitcoin in circulation is sitting in the wallets of these large investors. Related Reading: Is The Bitcoin Top Already Here? This Historical Pattern Says So While whale buying is bullish, the current investor sentiment may not be so. As the data for the “Weighted Sentiment” metric attached by Santiment in the chart suggests, investors are currently showing FOMO towards the asset. Historically, Bitcoin has tended to move against the majority’s expectations, so FUD\/fear has been ideal for uptrends to start. FOMO\/greed, on the other hand, has been where tops have become probable. BTC Price At the time of writing, Bitcoin is trading at around $64,700, up more than 7% over the past week. Looks like the price of the asset has retraced some of its recent recovery over the last few hours | Source: BTCUSD on TradingView Featured image from Vivek Kumar on Unsplash.com, Santiment.net, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":604966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,83982,11680,5493,12210,19064,1119,1144],"class_list":["post-604938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-accumulation","tag-bitcoin-bullish","tag-bitcoin-buying","tag-bitcoin-supply","tag-bitcoin-whales","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin whales have seen 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply","url":"http:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-hold-25-16-all-supply\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-whales-buying-hold-25-16-all-supply\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/vivek-kumar-fs283LESUtc-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin accumulation","bitcoin bullish","bitcoin buying","bitcoin supply","bitcoin whales","btc","btcusd"],"dateCreated":"2024-04-25T03:00:33Z","datePublished":"2024-04-25T03:00:33Z","dateModified":"2024-06-11T07:05:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-whales-buying-hold-25-16-all-supply\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-whales-buying-hold-25-16-all-supply\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/vivek-kumar-fs283LESUtc-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin accumulation\",\"bitcoin bullish\",\"bitcoin buying\",\"bitcoin supply\",\"bitcoin whales\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-04-25T03:00:33Z\",\"datePublished\":\"2024-04-25T03:00:33Z\",\"dateModified\":\"2024-06-11T07:05:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/04\/vivek-kumar-fs283LESUtc-unsplash.jpg?fit=2880%2C1672","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/604938"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=604938"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/604938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/604966"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=604938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=604938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=604938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}