Bitcoin’s Big Players Are Betting Big: A Bullish Sign?

Big money is pouring into Bitcoin, and that’s a strong signal for the cryptocurrency’s future.

Whale and Shark Wallets Are Growing

Data shows a significant increase in Bitcoin wallets holding 100 BTC or more. We’re talking about serious investors – “sharks” and “whales” – who hold millions of dollars worth of Bitcoin. Over the past nine weeks, the number of these large wallets has jumped almost 10%, with a big chunk of that increase happening just this month.

This increase is tracked by looking at “Supply Distribution,” which basically counts how many wallets hold a certain amount of Bitcoin. The recent rise in wallets holding 100+ BTC is a clear indicator of growing investor confidence.

The Chart Speaks Volumes

The number of these large wallets went from 16,062 on October 10th to 17,644 recently. That’s over 1,500 new whale and shark-sized wallets in just nine weeks!

This growth is happening while
Bitcoin’s price is rising, which is a very positive sign. It suggests that even at higher prices, these big players are still buying. It’s a clear sign of FOMO (Fear Of Missing Out) among the biggest Bitcoin investors.

What Does This Mean for Bitcoin’s Price?

The continued buying by these large investors is fueling the Bitcoin bull run. Bitcoin’s price recently hit a new all-time high above $106,000, and at the time of writing, it’s trading around $103,900 – up nearly 5% in the last week. This shows that the market is strong and that the big players believe in Bitcoin’s potential.