Whale and shark addresses have collectively increased their Bitcoin holdings by 61,568 BTC over the past month, according to Santiment data. This represents a 0.45% rise in holdings for addresses with 10 to 10,000 Bitcoins. Meanwhile, smaller addresses holding less than 0.01 BTC saw a 0.42% increase, adding 213 Bitcoins. The data indicates ongoing Bitcoin exchange outflows, suggesting accumulation rather than selling.
Santiment analysts interpret the accumulation by large holders as a potential positive signal for a price breakout. Historically, such behavior by large wallets, coupled with retail selling, has often preceded the onset of a bull market cycle.
Whale and Shark Bitcoin Holdings Surge by 61,000 BTC in March
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