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Analysis: Whales Continue to Accumulate Bitcoin, Wallets Holding 10 to 10,000 BTC Increased by Approximately 41,000 BTC in Two Weeks
On May 3, the crypto lending platform Nexo reported that the number of wallets holding over 100 BTC is continuously rising, indicating that ‘smart money’ is flowing back into the Bitcoin market. Data shows that addresses holding between 10 and 10,000 BTC have cumulatively increased their holdings by approximately 41,000 BTC over the past two weeks. Meanwhile, the price of Bitcoin has also surpassed the ‘True Market Mean’ average level of $78,100 for the first time since January this year. Market analysis suggests that the continued accumulation by large on-chain addresses may reflect a recovery in risk appetite among institutions and long-term holders.