New Data Reveals Large Bitcoin Holders Accumulate $1.5B in Two Weeks
According to recent data, deep-pocketed Bitcoin holders have acquired over $1 billion worth of the cryptocurrency in the past two weeks. Market intelligence platform IntoTheBlock reports that addresses holding 0.1% or more of the Bitcoin supply have added $1.5 billion in BTC holdings since mid-August. Additionally, blockchain tracking firm Glassnode finds that the number of investors holding at least 10 BTC has reached a three-year high of 157,324.
Furthermore, Bitcoin is currently trading at $25,889, experiencing a slight decrease. However, analytics firm Santiment suggests that the recent surge in the market caps of the top six stablecoins indicates a potential reversal in the crypto market. The collective market caps of these stablecoins have grown by $663.2 million since August 22nd, after experiencing a decline of 25.9% in the past 18 months.
In summary, the recent data shows:
– Deep-pocketed Bitcoin holders have accumulated over $1 billion worth of BTC in the last two weeks.
– The number of investors holding at least 10 BTC has reached a three-year high.
– Bitcoin is currently trading at $25,889.
– The market caps of the top six stablecoins have grown by $663.2 million since August 22nd.
– This growth suggests a potential reversal in the crypto market.
In conclusion, the data indicates a significant increase in Bitcoin holdings by large investors, potentially signaling a positive trend for the cryptocurrency. Additionally, the surge in stablecoin market caps may indicate a market reversal. It will be interesting to see how these developments impact the overall crypto landscape in the coming weeks.
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