For the first time since 2016, the number of Bitcoin whales—large holders who own at least 1,000 Bitcoin (over $9 million worth of the cryptocurrency)—is increasing. (OK, so maybe just less rich than before is more appropriate.)
But while there are new whales in the market, and the total Bitcoin balance held by whales has also started to increase for the first time since 2016, “individual whales are not getting richer,” Glassnode noted.
1/ There are now over 1800 #Bitcoin whales - the highest value since 2017.
Where are all these $BTC whales coming from? This thread will provide an explanation, and highlight why I see this trend as macro bullish.
(data @glassnode )
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