• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Monday, June 2, 2025
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Bitcoin Whale Numbers Return To January 2021 Bull Market Levels, Is A New ATH Coming?

Sergio Gruber by Sergio Gruber
October 24, 2024
in Crypto, News
Reading Time: 2 mins read
A A
0
Analyst Says Bitcoin Is In A ‘Healthier’ Place Now, Here’s Why
0
SHARES
0
VIEWS
FacebookTweetPinShareShare

Recent on-chain data has brought attention to a significant development in the world of Bitcoin. Specifically, addresses holding at least 1,000 BTC, commonly referred to as Bitcoin whales, have reached a new milestone. The number of these substantial holders is now at its highest since the bull market levels of January 2021. With Bitcoin continuing to trade near its all-time high, this surge in whale activity prompts discussions about the potential for Bitcoin to break new all-time highs soon.

Whale Activity and Holder Count Reaches New Highs

blockdag 70m

Bitcoin whales have consistently served as critical indicators of market sentiment among traders and long-term holders. According to Glassnode data, as presented by André Dragosch, director and head of research for Europe at Bitwise, the number of Bitcoin addresses qualifying as whales has been on a steady ascent since January 2024. Back then, there were just under 1,500 such addresses. The current figures reveal a remarkable increase, with 1,678 addresses now holding at least 1,000 BTC, marking the highest level of whale activity since the major bull run in January 2021.

Related Insights

This upward trajectory has been fueled by the current market climate and the influx of institutional investors. The persistent growth in whale numbers suggests substantial confidence among larger holders, each possessing at least $67 million in Bitcoin, given the cryptocurrency’s current price.

New All-Time High Incoming?

The accumulation of Bitcoin by whales leading up to the previous peak in January 2021 was a pivotal factor that propelled Bitcoin’s price to exceed $69,000. Although Bitcoin has surpassed this previous high, reaching a new all-time high of $73,737 in March 2024, the same accumulation pattern appears to be emerging once more. This surge in BTC accumulation by whales has provided the necessary momentum to prevent further price corrections following a recent false breakout from a descending triangle.

Related Insights

Despite the false breakout, the overall sentiment surrounding Bitcoin remains optimistic. On-chain analytics provider CryptoQuant highlights that it’s not just the whales driving the market dynamics. Retail investors have also become active participants. On-chain data indicates a 13% increase in retail demand over the past 30 days, mirroring the retail enthusiasm witnessed in March 2024, just before Bitcoin achieved its latest all-time high.

Retail Activity and Market Sentiment

Retail on-chain activity has made a notable comeback after a four-month lull. This resurgence reflects growing interest among smaller investors, contributing to the overall market momentum. As of the time of writing, Bitcoin is trading at $67,000, with a 24-hour range of $65,161 to $67,538 and a seven-day range of $65,441 to $69,227.

Notably, Bitcoin is now only about 10% away from surpassing its all-time high once again. With increased buying interest from both whales and retail investors, Bitcoin seems poised for another breakout, potentially setting a new price record before the end of 2024.

Tags: analystBitcoinBitcoin newsbitcoin priceBTCBTC newsbtc pricebtcusdBTCUSDTcryptocrypto analystCrypto news
Previous Post

Crypto Market Today (Oct 24th, 2024): Bitcoin at $67k

Next Post

Consensys Reveals Why Crypto Could Decide the U.S. 2024 Election Winner

Sergio Gruber

Sergio Gruber

Financial writer Hello, my name is Sergio Gruber and I am a finance editor with a specialization in blockchain and cryptocurrency. I have a deep understanding of how the financial world is being transformed by these exciting technologies.I received my degree in Finance Editing from Western Washington University, where I learned how to combine my passion for writing and financial analysis. Since then, I have worked with a number of high-profile publications, helping to educate and inform readers about the latest developments in the world of blockchain and cryptocurrency.

Next Post
Consensys Reveals Why Crypto Could Decide the U.S. 2024 Election Winner

Consensys Reveals Why Crypto Could Decide the U.S. 2024 Election Winner

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    How BlockDAG’s Community-First Strategy Raised $68.3M in Presale; Cardano To Roll out New Update & Solana Price Prediction Bullish

    0 shares
    Share 0 Tweet 0
  • Top 10 Altcoins Under $1 to Invest in 2025

    0 shares
    Share 0 Tweet 0
  • Alex Mashinsky Net Worth: From Tech Pioneer to Legal Battle

    0 shares
    Share 0 Tweet 0
  • Vanguard Routing Number: How to Find and Use It

    0 shares
    Share 0 Tweet 0
  • How to Earn Passive Income? Embrace the Future of Passive Income and Earn 20% Instant USDT with Caged Beasts Coin

    0 shares
    Share 0 Tweet 0

Recent News

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

$12k Void Opens Up Possibility Of Crash Toward $75,000

$12k Void Opens Up Possibility Of Crash Toward $75,000

January 11, 2025
Phishing, Fake Mining Scams, and $474K Loss in One Week

Phishing, Fake Mining Scams, and $474K Loss in One Week

January 11, 2025
3 kleine crypto’s met potentie

3 kleine crypto’s met potentie

January 11, 2025
Unbelievable 1000x Return in Just 12 Hours!

Crypto Whale Bags $4.9M in Profit with Solana’s AI Meme Coin

January 11, 2025

WARNING:

The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.
Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2024 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2024 FinCurrency - Global News

Banner 1
Banner 2
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.