If it feels like something is brewing beneath the surface of Bitcoin, you’re not imagining things. According to data from Glassnode, Bitcoin wallet stats show that wallets holding between 100 and 1,000 BTC (the so-called “shark” cohort) have hit an all-time high.
Every time this kind of accumulation takes place, it makes Bitcoin news, and the BTC price tends to soar. Could there be a pump incoming?
Is BTC Price About to Explode Thanks To Historic Levels of Wallet Growth?
What’s behind the frenzy? Are the sharks onto something, or are we all just witnessing a garden-variety migration with a little Twitter hype thrown in for fun?
On-chain trackers don’t lie. Glassnode’s data shows historic levels in Bitcoin wallet growth.
Further, it displays marked increase in aggregate holdings for addresses containing 100–1000 BTC. At the current Bitcoin price, that’s roughly $11 million to $110 million per wallet.
Over the past week, their holdings grew by around 65,000
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