Bitcoin (BTC) whales are moving massive amounts of BTC as the leading crypto asset prints a new 30-day high at $43,271.
Blockchain tracker Whale Alert spotted four large Bitcoin transactions in which crypto whales relocated 41,671 BTC, worth $1.78 billion, in a span of one hour.
As Bitcoin and other crypto markets recover from May 2021 downturns, crypto analytics firm Santiment says that whales continue to increase their BTC holdings.
According to Santiment, the percentage of BTC ownership among the “millionaire tier” cohort, or investors holding between 100 and 10,000 BTC, has risen sharply since June, allowing the deep-pocketed investors to accumulate nearly half of Bitcoin’s total supply.
“Bitcoin addresses that hold 100 to 10,000 BTC currently own 49.11% of the total Bitcoin supply, and they’re still very near the [all-time high] of 49.18% made just last week. This key group of whales is one of our most solid indicators to watch.”
Santiment adds that Bitcoin’s jump to a 30-day high comes just as trader euphoria on the BTC market is waning.
“Bitcoin has taken off on a bullish crypto Friday, touching above $43,000 for the first time since May 18th. The spike comes as traders were cooling down on BTC, as markets historically move the opposite way of crowd expectation.”
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Featured Image: Shutterstock/Willyam Bradberry