The number of Bitcoin whales—entities holding at least 1,000 BTC—has reached its highest level since January 2021, according to data from Glassnode. This increase in whale activity could signal an upcoming price rally for Bitcoin, which is just 10% shy of its all-time high.
Whale Activity and Retail Investors
The rise in Bitcoin whales, now at 1,678, suggests growing confidence in Bitcoin’s price outlook. This uptick in large holders comes at a time when retail investor accumulation has slowed. While retail holdings have risen by just 1,000 BTC in the past 30 days, larger investors have accumulated 173,000 BTC in the same period.Outlook for Bitcoin Prices
Bitcoin is currently trading just above $67,000, with some analysts predicting a rise to $80,000 or even $100,000 in the coming months. Options trading data from Deribit points to these higher levels, indicating that whales and institutional investors may be positioning themselves for the next Bitcoin surge.
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