Crypto whales accumulated largest volumes of bitcoin since April 2024

According to blockchain data provider Glassnode, the number of addresses holding from 1,000 to 10,000 bitcoins has increased from 1,944 to 2014 since March 5.

There has been a steady increase in the number of addresses with more than 1,000 bitcoins, and it has picked up even more in recent weeks. A total of 2014 wallets contain massive amounts of bitcoins, indicating a significant increase in large-scale and institutional adoption of the cryptocurrency.

The number of large bitcoin wallets increased by about 3.5% in just one month. This allowed crypto whales to see their holdings to rise to the highest level in a year. Such a figure was last seen in April 2024. This suggests an imminent breakout in the bitcoin price.

The recently increased transaction activity within the bitcoin ecosystem signals the renewed interest of large holders in the leading cryptocurrency. The U.Today news portal reported a major withdrawal of more than $84 million worth of bitcoin from a cryptocurrency exchange.

This figure reinforces the assumption that wealthy investors are choosing bitcoin more often as a long-term strategy to maximize returns.

Bitcoin has risen 8.37% over the past 7 days, and on April 16, its price stands at $83530.