{"id":28284,"date":"2024-09-02T19:30:49","date_gmt":"2024-09-02T16:30:49","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28284"},"modified":"2024-09-02T13:44:04","modified_gmt":"2024-09-02T10:44:04","slug":"number-of-wallets-over-100-bitcoins-reaches-17-month-high","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/number-of-wallets-over-100-bitcoins-reaches-17-month-high\/","title":{"rendered":"Number of Wallets Over 100 Bitcoins Reaches 17-Month High"},"content":{"rendered":"<p>Bitcoin whales have been increasingly active in the market recently, accumulating more Bitcoin as smaller investors sell their holdings amid market pressures. This trend has led to a significant increase in the number of Bitcoin wallets holding 100 BTC or more, reaching a 17-month high.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/number-of-wallets-over-100-bitcoins-reaches-17-month-high\/#Bitcoin_Whales_Continue_to_Accumulate\" title=\"Bitcoin Whales Continue to Accumulate\">Bitcoin Whales Continue to Accumulate<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/number-of-wallets-over-100-bitcoins-reaches-17-month-high\/#Whales_Buy_During_Market_Drops\" title=\"Whales Buy During Market Drops\">Whales Buy During Market Drops<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/number-of-wallets-over-100-bitcoins-reaches-17-month-high\/#Potential_Positive_Signs_for_the_Market\" title=\"Potential Positive Signs for the Market\">Potential Positive Signs for the Market<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_Whales_Continue_to_Accumulate\"><\/span>Bitcoin Whales Continue to Accumulate<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to data from blockchain analytics platform Santiment, the number of Bitcoin wallets holding at least 100 BTC increased by 283 in August alone, bringing the total number of such wallets to 16,120. This increase suggests a growing trend among larger investors to accumulate Bitcoin, especially as retail investors sell their holdings.<\/p>\n<p>Santiment\u2019s data also shows a rise in \u201cshark\u201d wallets, which are wallets holding at least 10 BTC. The platform estimates that wallets holding between 10 and 10,000 BTC have accumulated a total of over 133,000 coins in the past 30 days, worth over $7.6 billion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Whales_Buy_During_Market_Drops\"><\/span>Whales Buy During Market Drops<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Blockstream CEO and Hashcash inventor Adam Back observed that whales have been on a buying spree since Bitcoin\u2019s price dropped from $62,000 to around $58,000 on August 28, buying around 450 BTC per day. This amount is equal to the number of Bitcoins mined per day, indicating significant accumulation by large investors.<\/p>\n<p>Back highlighted this activity, saying, \u201cWhales Back have been buying 450 BTC every minute of every day since the drop on the 28th. It\u2019s the same as the daily mined Bitcoin. Go ahead and sell them cheap corn.\u201d<\/p>\n<p><em>You may also be interested in: <a href=\"https:\/\/coinengineer.net\/blog\/sold-off-with-a-5-5-million-loss\/\">Sold Off with a $5.5 Million Loss<\/a><br \/>\n<\/em><\/p>\n<p>Santiment attributes the increased activity among whales to smaller traders who are likely selling their holdings due to market pressures and fears of further price declines. Crypto analyst Axel Adler Jr. of CryptoQuant speculated that these smaller traders may be feeling compelled to sell as Bitcoin\u2019s price has fallen below entry points.<\/p>\n<p>Adler noted that if the current trend continues, the number of traders willing to sell at a loss could increase and potentially double. The Crypto Fear &amp; Greed Index, which measures market sentiment, was in the \u201cFear\u201d range at 26 as of September 2, reflecting a predominantly cautious mood among investors throughout August.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Potential_Positive_Signs_for_the_Market\"><\/span>Potential Positive Signs for the Market<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite the prevailing fear in the market, some analysts see the increased whale activity as a potential positive indicator for Bitcoin\u2019s future. Vivek Sen, founder of Bitgrow Lab, suggests that significant whale buying often precedes new all-time highs for Bitcoin. \u201cThe last time whales bought a lot, Bitcoin hit a new ATH,\u201d he said.<\/p>\n<p>Whale accumulation could represent a vote of confidence in Bitcoin\u2019s long-term potential, and could indicate that larger investors are positioning themselves for future gains even as smaller investors exit the market.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin whales have been increasingly active in the market recently, accumulating more Bitcoin as smaller investors sell their holdings amid market pressures. This trend has led to a significant increase in the number of Bitcoin wallets holding 100 BTC or more, reaching a 17-month high. Bitcoin Whales Continue to Accumulate According to data from blockchain<\/p>\n","protected":false},"author":6,"featured_media":17784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,5158,4494],"class_list":["post-28284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-bitcoin-wallets","tag-bitcoin-whales"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Number of Wallets Over 100 Bitcoins Reaches 17-Month High - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/number-of-wallets-over-100-bitcoins-reaches-17-month-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Number of Wallets Over 100 Bitcoins Reaches 17-Month High - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Bitcoin whales have been increasingly active in the market recently, accumulating more Bitcoin as smaller investors sell their holdings amid market pressures. 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