Bitcoin Addresses With 10+ BTC Reach All-Time High: Santiment
A recent report from blockchain data tracker Santiment reveals that there has been a significant increase in a specific group of Bitcoin investors. The on-chain analytics platform notes that the number of shark and whale addresses, which hold at least 10 BTC, has risen since early 2022.
The report discloses that there are now an additional 11,806 addresses with more than 10 BTC, representing an 8.12% increase over the past 20 months. According to Santiment’s data, there are currently 157,400 wallets holding at least 10 Bitcoin, surpassing the previous record high set in 2019.
BTC Price Overview
As of now, Bitcoin is valued at $26,901 with minimal price movement in the last day. However, if we look at the broader BTC price chart, it is evident that the cryptocurrency has struggled over the past week.
CoinGecko data shows that Bitcoin experienced a 3.7% price decline in the last seven days. After failing to break the $28,000 mark, the premier cryptocurrency saw its price drop to $26,500 for the first time in October.
Although the news of the United States Securities and Exchange Commission (SEC) deciding not to appeal the Grayscale decision may have brought some relief to investors, Bitcoin’s price has not significantly benefited from this positive development.
Nevertheless, most investors remain optimistic about Bitcoin’s future, particularly with the increasing likelihood of a spot exchange-traded fund (ETF) approval.
Hot Take: Bitcoin Investors Remain Optimistic Despite Recent Struggles
Bitcoin has faced challenges in gaining momentum amidst the bearish market sentiment. However, the growing number of addresses holding at least 10 BTC indicates that investors still have significant faith in the premier cryptocurrency.
Despite a recent price decline, Bitcoin’s future looks promising, especially with the possibility of a spot ETF approval. This positive development, along with the increased number of Bitcoin wallets holding substantial amounts, suggests that investors remain optimistic about Bitcoin’s long-term prospects.
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