3 months ago 2 min read

3-Year Low was Reached for Number of Bitcoin Addresses Holding More Than 1,000 Coins


Reached A 3-Year Low For The Number Of Bitcoin Addresses Holding Over 1,000 Coins

Bitcoin addresses with a balance of more than a thousand coins are, in other words, the wallet addresses of "sharks" or "whales," who control a sizable portion of the current Bitcoin supply and can affect the number of coins they possess. Since the FTX catastrophe, exchanges are now only allowed to store a certain amount of bitcoin because of safety concerns.

A one-year high has also been reached for the number of Bitcoin supply last activity 2-3 years (1d MA).

This chart shows the percentage of Bitcoins inactive for 2-3 years and more. More Bitcoins remaining inactive means more Bitcoins are being held instead of traded, which could lead to a spike in price.

From that, we can deduce on a micro level retail investors are massively hoarding Bitcoin, and even more, the concentration of sharks and whales is still maintained. Large investors are still waiting for the opportunity to explode.

Given that Bitcoin's price has not showed any indications of recovery over the previous year, some analysts are still concerned about the current state of the cryptocurrency. Before further diving into the BTC pool, investors might want to pause and consider the projected investment trends for 2022. Wenry, a researcher for CryptoQuant, says that owners of Bitcoin should prepare for a significant decrease in value in 2023.

BTC is now trading at $16,730 at the time of writing.

Daily BTC chart. Origin: Coin Aquarium
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