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Analysis: Large whales are continuously increasing their Bitcoin holdings, with wallets holding 10 to 10k BTC adding approximately 41k BTC over two weeks.
BlockBeats News. On May 3, the crypto lending platform Nexo posted that the number of wallets holding more than 100 BTC is continuing to rise, suggesting that “smart money” is flowing back into the Bitcoin market.
According to data, addresses holding between 10 and 10,000 BTC have cumulatively accumulated about 41,000 BTC over the past two weeks. At the same time, Bitcoin’s price has also, for the first time since January this year, broken above the “True Market Mean” average level of 78,100 US dollars.
Market analysis believes that continued accumulation by large on-chain addresses may reflect a rebound in risk appetite among institutions and long-term holders.