A new analysis shared by the cryptocurrency analysis company Santiment included comments on the course of Bitcoin.
According to analysts, Bitcoin whale wallets holding large amounts of coins present a bullish outlook in the long term. According to the report, the amount of BTC held by whales holding more than 10 BTC in their wallets has now reached 16.17 million BTC, the highest number of all time.
According to the analyst, in the current situation, in the ideal scenario for the cryptocurrency industry to start a new bull rally, there will be an increase in purchases for Bitcoin from Tether and USDC holders.
However, when examining the big whale wallets of these stablecoins, it is seen that wallets with assets between 100 thousand and 10 million dollars have 34.2% of the total supply, which means a decrease of approximately 2% compared to 6 months ago.
On the other hand, for USDT, 30.3% of the total supply is held in cryptocurrency wallets with assets between 100 thousand dollars and 10 million dollars. This means a decrease of 5.37% compared to 6 months ago.
*This is not investment advice.