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​The number of Bitcoin holders has grown to a record level

Bitcoin: ​The number of Bitcoin holders has grown to a record level

A recent analysis of data has revealed a significant rise in the accumulation of Bitcoin by large holders. As per the details shared by Ki Young Ju, the CEO of #CryptoQuant, the inflow of Bitcoin into investor wallets has surged to a record high of 25,300 coins.

The growth of holders is scrutinized based on specific conditions. Wallets holding a minimum of 10 BTC without any outward transactions are considered. Addresses linked to centralized #exchanges or #miners are excluded from this analysis. Moreover, wallets that have received over 2 incoming transactions and have been active for the past 7 years are taken into account.

Past data presented by the analyst indicates that the accumulation of Bitcoin in wallets peaks just before the price surge of the leading cryptocurrency. This rise in the number of coins in #wallets reflects the intentional actions of major holders to amass Bitcoin reserves well ahead of price spikes, rather than during market peaks.

The strategic accumulation of cryptocurrency by investors highlights the intricate dynamics of the digital asset market. With Bitcoin remaining a focal point for users and analysts, these trends offer valuable insights into the behavior of the asset and potential future price movements.

In contrast, analysts have observed a decrease in Bitcoin holdings in centralized exchange wallets. Experts attribute this to the growing optimism among investors, who anticipate further price appreciation due to the broader acceptance of Bitcoin and the emergence of spot #Bitcoin-ETFs.

Nevertheless, analysts also point out the issues faced by #FTX, #Celsius, and #Binance, which might have prompted users to withdraw funds from trading platforms for security and #regulatory compliance purposes.

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