Bitcoin Sharks And Whales Surge As Addresses Hits New High According to Santiment

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Bitcoin shark and whale accounts have risen in the past 30 days, according to Santiment Feed. In a tweet, the crypto analytics platform noted that the number of addresses had reached new levels, which was last seen in February 2021.

Santiment tweeted.

“The amount of Bitcoin addresses holding 10+ BTC has ramped up, particularly since the mid-June drop. In the past 30 days, these addresses have increased by 1.12%. 149.2k addresses are holding ten or more BTC, the most held since February 2021,” 

While Bitcoin continues to show increasingly positive fundamentals, notably, a tweet from Glassnode Alerts on Wednesday stated that Bitcoin deposits on exchanges continue to drop.

Glassnode Alert stated:

“Bitcoin $BTC Number of Exchange Deposits (7d MA) just reached a 2-year low of 2,013.435 … Previous 2-year low of 2,016.685 was observed on 11 July 2022,”

Related: Bitcoin Reached a New Milestone, Passing 1 Billion Created Wallets

Bitcoin Continues to Attract Investors

More survey shows that BTC holders are accumulating the digital asset class despite the bearish nature of the cryptocurrency market. This development is no surprise because investors believe now is the right time to buy when the price is low. For example, Santiment on Saturday revealed that Bitcoin sharks had accumulated 52,000 BTC in 5 weeks.

Nonetheless, the asset’s price continues to struggle as inflation persists and institutional investors remain risk-off. 

In a tweet on Wednesday, Vetle Lunde, an analyst at Arcane Research, revealed that ProShares short Bitcoin ETF BITI had seen massive inflows as investors anticipate US inflation data later today.

The leading cryptocurrency by market capitalisation is exchanging hands for $19,525, according to CoinMarketCap. However, it is up by 0.37% in the last 24 hours and 0.87% in the previous seven days.

Read More: Bitcoin, Ethereum, Dogecoin, Shiba Inu, Others Gain as Cryptocurrency Prices Surge