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Recent data from IntoTheBlock reveals a significant shift in the Bitcoin landscape. Since mid-March, large-scale holders, often referred to as “whales,” have been increasing their stakes in Bitcoin. These investors, who hold over 1,000 BTC each, are now a dominant force in the market.
The cumulative holdings of these large addresses have surpassed the 40% threshold of the total Bitcoin supply. This marks a notable concentration of Bitcoin in the hands of fewer, albeit larger, investors.
This trend underscores a growing confidence among major stakeholders in the potential long-term value of Bitcoin. As these substantial players continue to accumulate more Bitcoin, their influence over the market’s dynamics and future direction strengthens, hinting at a bullish outlook for the cryptocurrency’s ecosystem.
