The addresses of Bitcoin whales reached a four-month high despite the drop in prices
According to BlockBeats, on-chain data reveals that despite the drop in Bitcoin prices from March to April, the number of addresses holding more than 1,000 BTC hit a four-month high. Glassnode data indicates that these addresses increased from 2,037 at the end of February to 2,107 by April 15, the highest level in nearly four months. This current figure is comparable to levels recorded in November to December 2024, influenced by the dynamics of the U.S. electoral market, but remains below the historical peak of nearly 2,500 addresses in February 2021.
The holding structure of Bitcoin whales is undergoing changes. Addresses with more than 100 BTC saw a slight increase to 18,026, while retail investors are reducing their holdings, with addresses holding less than 10 BTC continuing to decline. Whales are accumulating Bitcoins at three times the annual increase in the Bitcoin supply, and the balance on cryptocurrency exchanges continues to decrease.
