Bitcoin Whales Seize 68% of Supply After Adding 218,570 BTC
Main Idea
Bitcoin whales have significantly increased their holdings, accumulating 218,570 BTC since late March, while the market shows resilience and stability despite minor price fluctuations.
Key Points
1. Wallets holding between 10 and 10,000 BTC have accumulated 218,570 BTC since late March, now controlling over 68% of Bitcoin's total supply.
2. Bitcoin's price has consolidated near $118,000, with a brief dip from $119,000 to $115,000 due to a large sale, but the market absorbed it with minimal disruption.
3. Analysts view the current trading range between $115,000 and $119,500 as healthy consolidation, with milder market 'overheating' compared to past cycles.
4. A break below $115,000 could expose a liquidity gap down to $110,000, while surpassing $125,000 might trigger a rally to $141,000.
5. Bitcoin's price is up 11% over 30 days, with a key resistance level emerging above $120,000.
Description
Bitcoin’s largest stakeholders are quietly tightening their grip on the market. According to blockchain analytics firm Santiment, wallets holding between 10 and 10,000 BTC have accumulated 218,570 BTC since late March, boosting their control to more than 68% of the asset’s total supply. This deep-pocketed buying spree comes as Bitcoin consolidates near $118,000, with analysts increasingly convinced that the next major price surge will be driven by patient capital rather than retail speculation. ...
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