Bitcoin whales surge to 2021 levels—will this lead BTC to a new ATH?
Recently, a striking phenomenon has occurred in the Bitcoin market, with whale holdings rising to a three-year high, approaching 4 million BTC. The number of whale entities has increased in 2024, reaching levels seen at the beginning of 2021. This situation has sparked widespread attention and discussion in the market, with many speculating whether this will lead BTC towards a new all-time high (ATH).
According to data, as of October 23, there are over 1660 whale entities. Since mid-2023, whale entities have increased by approximately 670K BTC. However, not all whale groups are accumulating on a large scale; overall, whales have added more BTC than retail investors. Although retail holdings have been growing slowly, the overall trend leans towards a holding strategy.
Analysts believe this phenomenon may be a positive catalyst for BTC attempting to reach a new ATH, but further observation is necessary. The trends in the Bitcoin market are influenced by a multitude of factors, and the increase in whale holdings is just one of them.
Meanwhile, Worldcoin is also showing a bullish trend in the current market environment. It has risen by 31.74% over the past month and is trading within a symmetrical triangle on the 4-hour chart, with market activity indicating increased buying pressure. The upcoming golden cross and other supportive market indicators further strengthen its outlook. Market sentiment also supports the bullish outlook for Worldcoin, with long positions steadily increasing and funding rates remaining positive.
Overall, the changes in Bitcoin whale holdings bring new variables and expectations to the market. Although current signs appear positive, there remains uncertainty about whether BTC can truly enter a new ATH. Investors and market participants need to closely monitor market dynamics and analyze various factors to make more informed decisions.
