The Surge in Bitcoin Wallets with 100 BTC
The number of Bitcoin wallets holding at least 100 BTC has experienced a rapid surge, reaching almost 16,000. On October 13, there was a significant increase of 115 new addresses, marking the highest single-day increase this year. This indicates growing interest and accumulation of Bitcoin among investors.
Influence on Bitcoin Price
Following this surge in wallets, the price of Bitcoin saw a notable increase of over 5%. Additionally, rumors about the US Securities and Exchange Commission (SEC) approving BlackRock’s Bitcoin exchange-traded fund (ETF) application further influenced the price. However, these rumors were later debunked.
Whales’ Accumulation Spree
Bitcoin whales, referring to large investors, have been actively increasing their holdings since the market crash in mid-August. In less than a week by the end of August, these whales purchased over 11,600 BTC. This demonstrates their confidence in the long-term potential and value of Bitcoin as an investment asset.
Hot Take: Bitcoin Wallets with 100 BTC Surge Amidst Whales’ Accumulation
The surge in Bitcoin wallets holding at least 100 BTC reflects growing interest and accumulation of the cryptocurrency among investors. This has had a significant impact on the price of Bitcoin, which experienced a notable increase. However, it is important to note that rumors about the SEC approving BlackRock’s Bitcoin ETF application were later debunked. Nevertheless, the active accumulation spree by whales demonstrates their confidence in Bitcoin’s long-term potential as an investment asset.
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