Bitcoin Whale Accumulation Reaches Peak Not Seen Since April 2024

Bitcoin whale accumulation has surged to 2,014 addresses holding 1,000-10,000 BTC, marking the highest levels since April 2024, signalling increased institutional interest. Bitcoin’s price has increased 9.48% recently, suggesting anticipation of a price rally. Notable transfers indicate growing adoption by high-net-worth investors.

Recent on-chain data from Glassnode reveals that Bitcoin whale accumulation has reached its highest level since April 2024. Specifically, the number of addresses holding between 1,000 and 10,000 BTC surged to 2,014, increasing from 1,944 observed on March 5. This growth is indicative of rising institutional interest and large-scale adoption of Bitcoin.

The sustained increase in large addresses reflects a significant uptick in whale activity, with the figure growing at the fastest pace since early 2024. This trend suggests that large holders exhibit renewed confidence in the asset, anticipating a potential bullish market rally similar to previous instances.

As of the latest figures, Bitcoin’s price stands at $84,084, marking a 9.48% rise over the past week. The increase in large Bitcoin wallets indicates a resurgence of interest from institutional investors, which is backed by a 3.5% rise in whale holdings over the last month.

Active participation from Bitcoin whales is evident through significant transfers within the ecosystem, such as a notable withdrawal of over $84 million from a major exchange. This trend supports the hypothesis that high-net-worth individuals are adopting Bitcoin as a long-term investment strategy, hoping to benefit from the current positive market momentum.

Moreover, Whale Alert identified a significant Bitcoin transaction on April 15, revealing a transfer of 1,000 BTC from a notable U.S. exchange to an unknown wallet. This highlights ongoing activity among large investors in the Bitcoin space as they prepare for potential price surges.