The buying pattern of bitcoin whales has long been an indicator for coming market movement. While it may not happen everything, the fact remains that these top addresses control enough of the supply between them to have significant impacts on the price. This is evident in past movements coinciding with major price shifts and once again, these whales have gone on another accumulation trend that could be the start of another bull rally.<\/p>\n
The bitcoin addresses that hold more than 100K on their balances are followed by investors and their activities are closely monitored. Usually, depending on if these wallets are buying or selling, the amounts can be large enough to move the needle more than a few inches. This time around, the wallets have been accumulating and their collective balances have reached a critical point.<\/p>\n
Related Reading |\u00a0Bitcoin Dominance Drops To 42% As Price Declines Below $43,000<\/a><\/strong><\/em><\/p>\n On-chain analysis firm Santiment recently reported that three bitcoin wallets holding more than 100K BTC have been increasing their holdings for the past year. These wallets which had a collective balance of 260K coins by February last year have more than doubled their holdings. In the space of a year, they have added a collective total of 404K BTC, bringing their balance to 664K.<\/p>\n \ud83d\udc33 #Bitcoin<\/a>'s top addresses with 100k+ coins currently hold 664k $BTC<\/a> after sitting at just 260k $BTC<\/a> in Feb, 2021. There are currently 3 addresses of at least this size. They held an #AllTimeHigh<\/a> of 693k $BTC<\/a> in late June, just prior to prices surging. https:\/\/t.co\/VRMD1itWCL<\/a> pic.twitter.com\/V9bqIOrB6j<\/a><\/p>\n — Santiment (@santimentfeed) February 16, 2022<\/a><\/p><\/blockquote>\n\n