Bitcoin Shatters Previous Record – Is a Market Rally Imminent? Santiment Analysis Reveals
A groundbreaking analysis conducted by cryptocurrency firm Santiment has shed light on the current state of Bitcoin.
According to Santiment’s report, the wallets of Bitcoin whales, which hold significant amounts of the cryptocurrency, are indicating a bullish outlook for the long term. These whales currently hold a staggering 16.17 million BTC, surpassing the previous all-time high.
The report suggests that for the cryptocurrency industry to initiate a new bull rally, there needs to be an increase in Bitcoin purchases from Tether and USDC holders. These stablecoin wallets, however, show a decline in assets, with wallets containing between $100,000 and $10 million holding only 34.2% of the total supply, a decrease of approximately 2% compared to six months ago.
Similarly, USDT wallets with assets between $100,000 and $10 million now hold 30.3% of the total supply, down by 5.37% from six months ago.
Please note that this information should not be considered as investment advice.
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