This metric suggests renewed interest from large Bitcoin holders — Bitcoin might be set for a boom soon
According to on-chain data provider Glassnode, the number of addresses holding at least 1,000 BTC to 10,000 BTC has just surged to 2,014, up from 1,944 as of March 5.
Although the number of large addresses holding over 1,000 BTC has been surging consistently, it has picked up a stronger pace in recent weeks. The data shows that a total of 2,014 wallets are now holding massive amounts of Bitcoin, indicating a significant growth in large-scale and institutional adoption.
This uptick in whale accumulation marks the highest level of large Bitcoin holdings since April 2024 — a period that preceded a strong bullish rally in the crypto markets. As such, Bitcoin holders are anticipating a potential rally if history repeats itself.
The growth in large Bitcoin addresses reflects about a 3.5% surge in just one month. This metric confirms that Bitcoin whale accumulation has now grown to the highest level last seen in April 2024, suggesting an imminent breakout in the price of Bitcoin.
This impressive growth indicates that Bitcoin whales are gradually returning to the market, following the recent resurgence in the price of the leading cryptocurrency. Notably, Bitcoin is trading at $84,084 as of press time, an increase of 9.48% over the last seven days, according to CoinMarketCap.
The renewed interest from whales is evident in the increasing number of massive transfers flooding the Bitcoin ecosystem in recent days. U.Today recently reported a massive Bitcoin withdrawal that saw over $84 million leave a major cryptocurrency exchange.
This metric further validates growing speculation that high-net-worth investors are increasingly adopting Bitcoin as a long-term strategy, aiming to leverage the ongoing positive momentum to acquire huge quantities of BTC ahead of a possible rally and ultimately maximize gains.
In the same spirit, blockchain tracking firm Whale Alert also spotted a massive Bitcoin transfer involving 1,000 BTC from a major U.S. crypto exchange to an unknown wallet on April 15.
