August 9, 2022

Cointelegraph Consulting: BTC whales buying big as retail goes bullish

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The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the total amount of BTC held by addresses with 100+ Bitcoin has seen a particularly strong uptick since the news of Tesla investing $1.5billion in BTC, growing by an additional 20,490 BTC.

This brings the total amount of Bitcoin located in whale addresses to a new all-time high of just over 11.6 million, a number likely reflecting the increase in institutional participants over the recent time period.

The lunar calendar ended with a flurry of news that drove Bitcoin (BTC) annualized volatility to 125%, a figure not seen since April of last year. This has not deterred investors from buying BTC up to an all-time high, as the price flirts with breaking the $50,000 mark for the first time. A portion of this volume has been initiated from larger whale accounts, which should come as positive news for the retail investors.

Based on text data collected from over 1,000 crypto social channels, the amount of Bitcoin-related mentions surged to its highest level since 2019 when Facebook’s Libra announcement fueled more frantic buying from retail. 

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Published Date: Fri, 12 Feb 2021 13:33:00 +0000