Over the last three months, significant Bitcoin stakeholders, those holding between 100 to 100,000 BTC, have dramatically increased their holdings by acquiring an additional 319,310 BTC. This increase accounts for approximately 1.4% of Bitcoin’s total supply. Remarkably, a considerable portion of these newly acquired Bitcoins originated from smaller wallets holding less than 100 BTC. These smaller wallets have seen a reduction in their Bitcoin holdings by 105,260 BTC, marking a decrease of 0.7% of the total supply.

This shifting dynamic in Bitcoin ownership signals a bullish outlook for the cryptocurrency market. Large investors, also known as “whales,” are seemingly optimistic about Bitcoin’s future value. This trend is particularly noteworthy as it precedes the much-anticipated Bitcoin halving event scheduled for April 19th. The halving, which reduces the reward for mining new blocks, is historically associated with increases in Bitcoin’s price, further underlining the confidence of major stakeholders in the cryptocurrency’s potential growth.

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