$BTC: Prominent Analyst on Crypto Whales’ Appetite for Bitcoin A
The chart provided by Santiment offers comprehensive insights into Bitcoin
BTCUSDT
accumulation, focusing on wallets holding 10 or more BTC and tracking Tether (USDT) and USD Coin (USDC) holdings.
Bitcoin Accumulation by Large Wallets:
Green Line (BTC Holdings): The green line represents the number of BTC held by wallets with 10 or more BTC. As of 1 July 2024, these wallets hold an all-time high of 16.17 million BTC, marking a 1.07% increase over the past six months. This trend suggests that major Bitcoin holders, often referred to as “whales,” are steadily increasing their Bitcoin holdings despite market volatility.
Stablecoin Holdings:
Red Line (USDT Holdings): The red line shows the percentage of USDT held by wallets with 100,000 to 10,000,000 USDT. This has decreased by 5.37% over the past six months. The decline in USDT holdings indicates that these large holders might be converting their stablecoins into Bitcoin.
BTCUSDT
accumulation, focusing on wallets holding 10 or more BTC and tracking Tether (USDT) and USD Coin (USDC) holdings.
Bitcoin Accumulation by Large Wallets:
Green Line (BTC Holdings): The green line represents the number of BTC held by wallets with 10 or more BTC. As of 1 July 2024, these wallets hold an all-time high of 16.17 million BTC, marking a 1.07% increase over the past six months. This trend suggests that major Bitcoin holders, often referred to as “whales,” are steadily increasing their Bitcoin holdings despite market volatility.
Stablecoin Holdings:
Red Line (USDT Holdings): The red line shows the percentage of USDT held by wallets with 100,000 to 10,000,000 USDT. This has decreased by 5.37% over the past six months. The decline in USDT holdings indicates that these large holders might be converting their stablecoins into Bitcoin.
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