Source: Cointelegraph Original: "{title}"
As whales continue to accumulate, the number of addresses holding over 1,000 bitcoins surged in April.
Since early March, more than 60 new wallets holding over 1,000 bitcoins have been added, signaling increased whale activity.
According to on-chain data analysis firm Glassnode, the number of these "whale wallets" has risen from 2,037 in late February to 2,107 on April 15, reaching a four-month high.
This data level has returned to the levels seen during the whale address surges in November and December of last year, when the crypto market rapidly rose following Trump's election as U.S. president.
The historical record for the number of bitcoin whale addresses was set in February 2021, when there were nearly 2,500 addresses.
According to Glassnode, as of April 20, the number of addresses holding more than 100 bitcoins has also slightly increased this year, reaching 18,026. However, the number of "small holders" with less than 10 bitcoins has been on a downward trend in recent months.
Whales Continue to Accumulate
On April 18, Cointelegraph reported that bitcoin whales are absorbing assets at a rate exceeding 300% of the annual issuance, while the bitcoin balance on exchanges continues to decline.
Glassnode stated that super whales holding over 10,000 bitcoins remain in a strong accumulation phase, consistently buying the dip during market downturns.
Bitcoin trader "Mister Crypto" stated on April 20: "Whales are accumulating large amounts of bitcoin; they know exactly what will happen next."
Meanwhile, the price of bitcoin appears to be breaking out of the consolidation range it has been in since early March.
As of April 21, the price of bitcoin rose over $3,000 on the day, reaching $87,400 for the first time, breaking above the high since March 28.
Analysts indicate that bitcoin has broken out of a descending wedge pattern that has persisted for several months, which could signal a potential bullish reversal, with expectations that its price may rise to six figures before May.
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