• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF

On-Chain Data: Bitcoin Whales With 10k+ BTC Have Been Growing

Keshav Verma by Keshav Verma
1 year ago
in Bitcoin
Reading Time: 3 mins read

On-chain data shows the number of Bitcoin holders with 10k+ BTC have grown recently, a sign of accumulation from whales.

Number Of Bitcoin Whales Holding 10k Or More BTC Has Gone Up Recently

As pointed out by an analyst in a CryptoQuant post, both the 1k+ and 10k+ BTC holders have observed some growth in recent weeks.

Holders with 1k or more BTC are considered whales, and movement from them can have noticeable impacts on the Bitcoin market.

The relevant indicator here looks at all wallets on the network to see how many own between 1k and 10k BTC and how many are holding more than 10k BTC.

Now, here is a chart that shows how the holder count of these two Bitcoin whale groups have changed during the last couple of years:

Bitcoin Whales With 10k BTC

Looks like the 10k BTC holders have observed some very sharp growth recently | Source: CryptoQuant 

As you can see in the above graph, while the value of Bitcoin has been on a downtrend since November of last year, the number of Bitcoin whales with more than 10k BTC has only gone up.

The 1k+ BTC holders, on the other hand, were mostly on a sideways trend until May came, where the 10k BTC whales slumped down a bit and the 1k+ holders spiked up. This could possibly be because of the former group selling off some of their supply and dropping into the 1k to 10k range.

Related Reading | Ethereum Bullish Signal: 800k ETH Exits From Gemini

Not long after this increase, however, the 1k+ BTC whales dropped off and the 10k ones observed a rapid growth. There could be two things contributing to this trend.

First, some of the 1k+ BTC holders sold part of their supply such that their wallets went below the 1k mark. And second, many of the remaining holders rather bought more and entered into the 10k+ category. Both of these would mark as a drop in the 1k+ whale count.

Related Reading | Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long?

However, very recently the 1k+ BTC whales have again observed some growth while the 10k holders have still been sharply trending up. This implies that the total number of whales as a whole has gone up in the market recently.

Such accumulation from Bitcoin whales can lead to a positive outcome for the price of the crypto.

BTC Price

At the time of writing, Bitcoin’s price floats around $22.2k, down 1% in the last seven days. Over the past month, the crypto has gained 10% in value.

Bitcoin Price Chart

The value of the crypto has gone down a bit over the last couple of days | Source: BTCUSD on TradingView
Featured image from Karl-Heinz Müller on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Tags: bitcoinBitcoin Whale AccumulationBitcoin whalesbtcbtcusd
Tweet123Share196ShareSend
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He completed a bachelor's in physics in 2022. Keshav is enthusiastic about the cryptocurrency industry and holds an active interest in on-chain analysis. His hobbies include gaming, anime, and football.

Related Posts

Bitcoin Bull

Bitcoin Bull Signal Returns: Exchange Supply Hits Lowest Level Since 2017

4 hours ago
Bitcoin megaphone

Analyst Says Bitcoin Just Broke A Bullish Megaphone Pattern, What Are The Implications?

1 day ago
Bitcoin price - buy or sell now

Bitcoin Price Dips To $43,200: Buy Or Sell Now? Analyst Predicts Trend

1 day ago
Bitcoin $17 million

Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million

2 days ago
Bitcoin

Can Bitcoin Spot ETFs Attract Enough Capital? Experts On What Will Lead To ATH

2 days ago
Bitcoin Price

Apollo Crypto Predicts Bitcoin Price Of $200,000 This Cycle, Here’s Why

2 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • PolySign, Inc. PUBLIC AUCTION NOTICE OF FORECLOSURE SALE

    10 hours ago
  • Chimpzee Continues to Flourish In Final Week With $2.5...

    10 hours ago
  • Cardano (ADA) sees growth but investors now shifting...

    14 hours ago
  • Retik Finance (RETIK), Ethereum (ETH), and Solana (SOL) are...

    1 day ago
  • Match Chain Mainnet Ready to Roll Out in March

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.