According to Santiment analysts, the value of Bitcoin (BTC) currently stands at $17.5 billion. Over a specific period, whales holding between 1,000 BTC to 10,000 BTC obtained 1.24% of the total asset supply of 21 million.
Santiment suggests that institutional investors are playing a role in reducing volatility within the industry. There is a belief among many users that Bitcoin’s price is expected to reach the $70,000 mark again soon.
Ki Young Ju, the CEO of CryptoQuant, points out that new whale investments in Bitcoin are nearly double that of more established major players. The new whale category encompasses owners of coins less than 155 days old, with older ones falling outside this period.
