Bitcoin has set a new record, prompting speculation about a potential rally. Santiment, a cryptocurrency analytics firm, reported a milestone in Bitcoin metrics, suggesting bullish implications. The analysis reveals that whale wallets, holding substantial amounts of Bitcoin, now encompass a record-breaking 16.17 million BTC. This figure underscores growing confidence among large-scale investors.
Moreover, Santiment’s assessment posits that future bullish momentum could be bolstered by increased Bitcoin purchases from Tether and USDC holders. Despite this optimistic outlook, scrutiny of whale wallets holding stablecoins reveals a slight decline in their holdings compared to six months prior. Specifically, wallets containing assets ranging from $100,000 to $10 million now control 34.2% of the total supply, down approximately 2%.
For USDT, the decline is more pronounced, with 30.3% of the total supply held in similar cryptocurrency wallets, marking a decrease of 5.37% over the same period. It’s important to note that these observations are not intended as investment advice.
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