Bitcoin Whale Activity Surges as Large Holders Accumulate

According to Cointelegraph, the number of Bitcoin addresses holding more than 1,000 BTC has seen a significant increase in April, indicating heightened activity among large-scale investors, commonly referred to as 'whales.' Since early March, over 60 new wallets with holdings exceeding 1,000 Bitcoin have emerged, marking a notable uptick in whale accumulation. Data from Glassnode reveals that the number of these substantial wallets rose from 2,037 in late February to a four-month high of 2,107 by April 15. This resurgence in whale activity mirrors previous spikes observed in November and December, coinciding with the crypto market's surge following the election of U.S. President Donald Trump. The peak for Bitcoin whale addresses was recorded in February 2021, nearing 2,500. Additionally, the number of addresses holding over 100 BTC has seen a slight increase this year, reaching 18,026 by April 20, as per Glassnode's data. However, smaller holders with less than 10 coins have experienced a decline over recent months. On April 18, Cointelegraph highlighted that Bitcoin whales were acquiring the asset at unprecedented rates, exceeding 300% of the annual issuance, while exchange balances continued to decrease. Whales with holdings surpassing 10,000 coins remain in a strong accumulation phase, driven by ongoing dip buying. Bitcoin trader 'Mister Crypto' commented on April 20, stating, "Whales are accumulating massive amounts of Bitcoin, they know what comes next." Meanwhile, Bitcoin prices have shown signs of breaking out from a sideways trading pattern that began in early March. The asset surged over $3,000 on April 21, reaching $87,400 for the first time since March 28. Analysts suggest that Bitcoin's breakout from a multimonth falling wedge chart pattern may signal a potential bullish reversal, possibly propelling its price toward six figures by May.