- Santiment data suggests that Bitcoin accumulation has begun.
- Wallets with at least 10 BTC have added 154,560 coins in the past 5 months.
- Wallets holding 10 or more BTC play an important role in crypto bear and bull markets.
Bitcoin (BTC), the world’s leading digital asset by market capitalization, could be poised for a surge as large holders, often referred to as “sharks,” accumulate the cryptocurrency, signaling a potential end to the bear market. According to blockchain data platform Santiment, wallets holding 10 or more BTC have continued to purchase the cryptocurrency in recent months.
Santiment noted, in a post, that these larger wallets tend to drive prices higher during bullish cycles and contribute to bear markets when they sell off.
The blockchain analysis platform shared a chart illustrating the behavior of these Bitcoin holders during bullish and bearish periods. The chart clearly shows that these wallets begin accumulating significant amounts of BTC before each bullish price movement.
Santiment confirmed that Bitcoin wallets with at least 10 BTC have added 154,560 coins in the past five months, indicating renewed interest in the digita…
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