A Very Curious Thing Happened to Bitcoin for the First Time in 2023
TL;DR
The number of Bitcoin wallets with at least 100 BTC recently surged to nearly 16,000, with the largest single-day increase this year recorded on October 13.
Following these developments, the price of Bitcoin increased by over 5%. Rumors of the US SEC approving BlackRock’s BTC ETF application further influenced the price, although they were later debunked.
Bitcoin whales have significantly increased their asset holdings since the market crash in mid-August, with large investors buying over 11,600 BTC in less than a week by the end of August.
The Rapid Surge
As revealed by the behavior analytics platform Santiment, the number of Bitcoin wallets containing at least 100 BTC has recently spiked to almost 16,000. The figure was pumped with 115 new addresses last Saturday (October 13), registering the highest single-day increase this year.
🐳 #Bitcoin‘s number of wallets holding at least 100 $BTC has jumped to 15,970 after the largest single day jump of 2023 on Saturday. Since this accumulation, $BTC‘s price is +5.3%, and they may not be done. We will continue to monitor. https://t.co/l0drhvkf7E pic.twitter.com/0mDAmys7N4
— Santiment (@santimentfeed) October 18, 2023
Interestingly, the price of the leading cryptocurrency has soared by over 5% since these developments. The surge could have been even more significant should the reports indicating that the US SEC approved BlackRock’s application to launch a spot BTC ETF in America were true.
The primary digital asset exploded to nearly $30,000 (per CoinGecko) minutes after the coverages circulated the crypto space. However, it quickly retraced to approximately $28,000 once there was more clarity.
Whales Have Been on an Accumulation Spree
As CryptoPotato previously reported, Bitcoin sharks and whales have considerably increased their exposure to the asset since the market crash in mid-August. Data from the end of August showed that such large investors have purchased over 11,600 BTC in less than a week.
We also released a video depicting the six Bitcoin billionaires. Those willing to take a look at their exclusive club could watch the clip below:
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