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Bitcoin, the leading cryptocurrency, has experienced significant price fluctuations, recently surging to $67,000 before dipping to $62,500. Despite this volatility, Bitcoin whales remain undeterred, consistently accumulating more of the currency. On-chain data from Santiment reveals that since March 1st, wallets holding between 100 to 1,000 BTC have added 43,489 coins to their collections, valued at approximately $2.75 billion. Larger holders, with 1,000 to 10,000 BTC, have acquired 80,544 coins worth around $5.10 billion, and the largest wallets, containing 10,000 to 100,000 BTC, have gathered 91,732 coins, totaling about $5.80 billion.
As the market gears up for the anticipated Bitcoin halving on April 19th, which historically tends to push prices higher by reducing the supply of new tokens, Bitcoin’s market dominance has soared to a three-year peak. Despite a cooling in Bitcoin ETFs demand, on-chain accumulation activities signal robust confidence among major investors, underlining Bitcoin’s enduring appeal and resilience in the face of market uncertainties and setting a bullish tone for its future prospects.
