FX.co ★ Bitcoin whales population hits new record high

In the crypto market, every successful trader has a certain number of bitcoins. Holders of large amounts of bitcoin, otherwise known as whales, continue to increase their capital, closely monitoring the dynamics of the digital asset market.

According to BitInfoCharts, the number of Bitcoin addresses with balances over 1,000 $BTC exceeded 2,000, hitting a new record high over the year. There are approximately 2,190 rich list addresses, surpassing the previous record of 2,184 set in September 2019. The total amount of bitcoin held in accounts totals 7,868,823 amounting to $92.2 billion.

Experts point out that the current trend, typical for large investors, signals the accumulation of cryptocurrency assets. Notably, this trend will gain momentum in the medium and long term. In the short term, bearish sentiment remains strong taking into account the data from the futures market of the Chicago Mercantile Exchange (CME). Apparently, bears are now triumphing over bulls, or in other words, the number of short deals exceeds the number of long ones. The value of BTC in short positions notches record highs, while retail investors prefer opening long positions.