• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt
Nexo

Bitcoin Addresses With More than 100 BTC Rises, Indicating a Bull Run Ahead

Yashu Gola by Yashu Gola
11 months ago
in Bitcoin Price
0
  • Bitcoin addresses that contain more than 100 BTC are on the rise, according to data fetched by Santiment.
  • Forty-three new crypto wallets are holding more than a ton bitcoin tokens as the cryptocurrency trades flat below $10,000.
  • The growing number of large BTC holders has lately resulted in short-term price rallies.

As Bitcoin hovers below $10,000, the number of wallets holding more than 100 BTC is rising.

Data aggregator Santiment found that over 43 new crypto wallets increased their bitcoin token holdings to more than a hundred in the last five days. That amounted to nearly 16,000 bitcoin addresses in possession of more than $17.75 million, per the current BTC/USD exchange rates.

bitcoin, cryptocurrency, btcusd, bitcoin whales
Bitcoin whale sentiment recovering | Source: Santiment

Buying the Dips

Recent months showed the sentiment of whales as a leading indicator to predict spot bitcoin’s moves. As the number of 100-plus bitcoin holding addresses surged, it coincided with a drop in the prices. Overall, the pattern revealed that whales bought the cryptocurrency’s dips.

On March 12, for instance, the day on which Bitcoin crashed by more than 50 percent, the number of crypto wallets holding more than 100 BTC surged above 16,250. Also, ahead of the Bitcoin’s third halving, when the price had risen above $10,000, the number of 100-BTC addresses fell.

See also: Bitcoin Plunges As Halving FOMO Comes to End; What’s Next For Crypto?

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

With the number of addresses on the rise, whales hint that they are reaccumulating bitcoin. The narrative flourishes as the cryptocurrency trades in a flat range while testing $10,000 as its technical resistance. So it seems, whales are accumulating, for they don’t see a near-term price correction.

bitcoin, cryptocurrency, btcusd, xbtusd, btcusdt
BTCUSD eyeing a $10,000-retest | Source: TradingView.com, Coinbase

That serves as a bias-indication in an otherwise flat market. Bitcoin has been rangebound between $9,300 and $9,700 over the past five days. Therefore, if the accumulation continues while bitcoin trades flat, then it may set up a short-term bull scenario towards $10,000.

Meanwhile, a reversal in the 100-BTC wallets would mean a downside correction at a later stage.

“Over the past few months, the growing number of large BTC holders has coincided with short-term price rallies for the top coin, and vice versa: short-term whale drop-offs typically signaled an incoming price correction as well,” confirmed Santiment.

Bitcoin Technical Setup

The BTC/USD technical setup on a daily chart also hints at a potential bull run towards $10,000. The pair is currently testing the support of its ascending channel range – which appears like a Falling Wedge (redded). The Relative Strength Index (RSI), above 53, also has adequate room to push the price into its overbought area.

On the other hand, a breakdown below the Wedge support could risk a fall towards $8,694, with a broader bearish setup eyeing a downside target towards $6,776.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Yashu Gola

Yashu Gola

Globetrotter Yashu Gola has been working as a financial/crypto market journalist since 2013. He is an information technology graduate, a cryptography junkie, a filmmaking enthusiast, and an avid reader of Jon Erickson, Agatha Christie, JK Rowling, and Isaac Asimov.

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.