{"id":554365,"date":"2023-10-06T15:30:16","date_gmt":"2023-10-06T15:30:16","guid":{"rendered":"https:\/\/www.wncen.com\/?p=554365"},"modified":"2024-06-11T08:07:52","modified_gmt":"2024-06-11T08:07:52","slug":"bitcoin-holders-bought-almost-2-billion-weeks","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin-holders-bought-almost-2-billion-weeks\/","title":{"rendered":"These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data"},"content":{"rendered":"

On-chain data shows that mid to large Bitcoin holders have purchased almost $2 billion in the asset during the past six weeks.<\/p>\n

Bitcoin Holders With 1 To 10,000 BTC Have Neared All-Time High Holdings<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, the mid to large-sized BTC addresses have added 71,555 BTC to their holdings recently. The relevant indicator here is the “BTC Supply Distribution<\/a>,” which keeps track of the total amount of Bitcoin that each holder group in the market is holding right now.<\/p>\n

The investors or addresses are divided into these cohorts based on the total number of tokens that they are currently carrying. The 1-10 coins group, for instance, includes all holders who own at least 1 and at most 10 BTC.<\/p>\n

Related Reading: This Ethereum Metric Is Retesting The Bear-Bull Junction, Will Break Happen?<\/a><\/div>\n

If the Supply Distribution is applied to this specific cohort, it would tell us about the total amount of the asset that the addresses on the network fulfilling this condition are currently holding as a whole.<\/p>\n

In the context of the current discussion, the mid and large-sized investors in the market are of interest. Typically, these are the addresses ranging between 1 and 10,000 BTC.<\/p>\n

Here is a chart that shows the trend in the combined Bitcoin Supply Distribution for all the cohorts falling inside this particular coin range over the past few months:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has surged in recent days | Source: Santiment on X<\/a><\/pre>\n
This wallet range covers a variety of groups, with the two most notable being the sharks<\/a> and whales<\/a>. The sharks are generally the entities with 100-1,000 BTC, while the whales are those with 1,000-10,000 BTC.<\/p>\n
Both of these cohorts carry some power in the sector, because of the sheer size of their holdings. The whales, however, carry significantly more influence than the sharks, a natural consequence of their balances being much larger.<\/p>\n
The rest of the investors inside this range (those with 1-100 BTC) are considered mid-sized holders, who may not be relevant individually, but as a whole, they can have a notable presence in the market.<\/p>\n
From the graph, it’s visible that the combined holdings of all these groups have been heading up recently, implying that buying has been taking place. During the past six weeks alone, these investors have purchased a total of 71,155 BTC, which is equivalent to about $1.97 billion at the current exchange rate.<\/p>\n
With this latest accumulation spree, the total holdings of these Bitcoin investors have hit about 15.2 million BTC, which is the largest amount that they have held since January 2022.<\/p>\n
Related Reading: XRP, Polygon See Month-High Volumes As Investors Show FOMO<\/a><\/div>\n
Not just that, their current holdings are also just 90,000 BTC shy from their all-time high back in November 2021, where they owned about 15.29 million tokens of the asset.<\/p>\n
As is visible from the chart, the indicator has observed some particularly sharp growth during the past week or so, suggesting that these holders believe the current prices are worth buying at.<\/p>\n
BTC Price<\/h2>\n
Bitcoin hasn’t moved much since its pullback a few days ago as its price is still trading around the $27,700 mark.<\/p>\n
\"Bitcoin<\/p>\n
The value of the metric seems to have been moving sideways in the past few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that mid to large Bitcoin holders have purchased almost $2 billion in the asset during the past six weeks. Bitcoin Holders With 1 To 10,000 BTC Have Neared All-Time High Holdings According to data from the on-chain analytics firm Santiment, the mid to large-sized BTC addresses have added 71,555 BTC to their holdings recently. The relevant indicator here is the “BTC Supply Distribution,” which keeps track of the total amount of Bitcoin that each holder group in the market is holding right now. The investors or addresses are divided into these cohorts based on the total number of tokens that they are currently carrying. The 1-10 coins group, for instance, includes all holders who own at least 1 and at most 10 BTC. Related Reading: This Ethereum Metric Is Retesting The Bear-Bull Junction, Will Break Happen? If the Supply Distribution is applied to this specific cohort, it would tell us about the total amount of the asset that the addresses on the network fulfilling this condition are currently holding as a whole. In the context of the current discussion, the mid and large-sized investors in the market are of interest. Typically, these are the addresses ranging between 1 and 10,000 BTC. Here is a chart that shows the trend in the combined Bitcoin Supply Distribution for all the cohorts falling inside this particular coin range over the past few months: Looks like the value of the metric has surged in recent days | Source: Santiment on X This wallet range covers a variety of groups, with the two most notable being the sharks and whales. The sharks are generally the entities with 100-1,000 BTC, while the whales are those with 1,000-10,000 BTC. Both of these cohorts carry some power in the sector, because of the sheer size of their holdings. The whales, however, carry significantly more influence than the sharks, a natural consequence of their balances being much larger. The rest of the investors inside this range (those with 1-100 BTC) are considered mid-sized holders, who may not be relevant individually, but as a whole, they can have a notable presence in the market. From the graph, it’s visible that the combined holdings of all these groups have been heading up recently, implying that buying has been taking place. During the past six weeks alone, these investors have purchased a total of 71,155 BTC, which is equivalent to about $1.97 billion at the current exchange rate. With this latest accumulation spree, the total holdings of these Bitcoin investors have hit about 15.2 million BTC, which is the largest amount that they have held since January 2022. Related Reading: XRP, Polygon See Month-High Volumes As Investors Show FOMO Not just that, their current holdings are also just 90,000 BTC shy from their all-time high back in November 2021, where they owned about 15.29 million tokens of the asset. As is visible from the chart, the indicator has observed some particularly sharp growth during the past week or so, suggesting that these holders believe the current prices are worth buying at. BTC Price Bitcoin hasn’t moved much since its pullback a few days ago as its price is still trading around the $27,700 mark. The value of the metric seems to have been moving sideways in the past few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":554406,"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":[428,83982,5493,1119,1144],"class_list":["post-554365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-accumulation","tag-bitcoin-buying","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nThese Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data<\/title>\n<meta name=\"description\" content=\"On-chain data shows the mid to large Bitcoin holders have purchased almost $2 billion in the asset during the past six weeks.\" 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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:\/\/www.wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data","url":"http:\/\/www.wncen.com\/news\/bitcoin-holders-bought-almost-2-billion-weeks\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/bitcoin-holders-bought-almost-2-billion-weeks\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/kanchanara-OqEPgkdX3RA-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/kanchanara-OqEPgkdX3RA-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin accumulation","bitcoin buying","btc","btcusd"],"dateCreated":"2023-10-06T15:30:16Z","datePublished":"2023-10-06T15:30:16Z","dateModified":"2024-06-11T08:07:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin-holders-bought-almost-2-billion-weeks\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin-holders-bought-almost-2-billion-weeks\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/kanchanara-OqEPgkdX3RA-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/kanchanara-OqEPgkdX3RA-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin accumulation\",\"bitcoin buying\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-10-06T15:30:16Z\",\"datePublished\":\"2023-10-06T15:30:16Z\",\"dateModified\":\"2024-06-11T08:07:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2023\/10\/kanchanara-OqEPgkdX3RA-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/554365"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=554365"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/554365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/554406"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=554365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=554365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=554365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}