Bitcoin recently hit a new all-time high, then dipped a bit. But even with the price fluctuation, something interesting is happening: big investors, also known as “whales,” are piling back into Bitcoin.
Whale Watching: A Surge in Big Investors
A recent report from Santiment, a crypto data platform, shows a significant increase in the number of Bitcoin whale wallets. Specifically, they’re seeing a jump in the number of wallets holding between 100 and 1,000 BTC. Over the past six weeks, 337 new wallets in this range have appeared!
This isn’t just a small increase; these whales have bought over 122,330 BTC in that same time period. That’s a huge amount of Bitcoin! Historically, this kind of whale activity has often been a precursor to significant price movements.
More Than Just Santiment: Other Data Points to Bullish Sentiment
It’s not just Santiment seeing this trend. Glassnode, another big name in crypto data, reports similar findings. They’ve also noticed an increase in the number of wallets holding 1,000 BTC or more. This group is growing again after a dip in late April. The number of these mega-whales has now reached 1,455.
Adding to the bullish sentiment, analyst João Wedson points out that whales are taking long positions (betting on the price going up), unlike many smaller retail investors.
What Does It All Mean?
The combined data from Santiment and Glassnode paints a pretty clear picture: large investors are increasingly optimistic about Bitcoin. Their significant buying activity suggests they believe the price will continue to rise. While this isn’t a guarantee of future price increases, it’s a strong signal that many seasoned players are betting big on Bitcoin’s long-term prospects.
