According to the analytics firm IntoTheBlock, a lot of traders have started to acquire Bitcoin on their addresses, increasing their BTC balance by 4.2 percent.
Bitcoin traders are purchasing more BTC to hold.
IntoTheBlock has reported that a number of traders have lately purchased more Bitcoin, raising their balances by 4.2 percent. These investors have been holding for over 30 days.
According to the tweet, these traders tend to follow the Bitcoin price activity. According to the data aggregator, the market now sees a resurgence of retail interest in Bitcoin.
Retail interest in $BTC is returning to the market.
The number of traders – addresses holding <30 days, are rapidly increasing in correlation with the price appreciation of #Bitcoin.
These traders tend to follow the price action, and they have increased their balance by 4.2%. pic.twitter.com/lcnSWQKWou— IntoTheBlock (@intotheblock) March 3, 2022
Bitcoin whales’ balances have increased to 11.78 million BTC.
Earlier this week, a group of Bitcoin wallet owners who had held the currency for more than a year. Their balances have increased by 4.13 percent in the last 30 days.
These whale wallets now contain a staggering $516,369,232,000 in BTC — that is, 11.78 million coins.
Furthermore, according to the Santiment data vendor’s analytics team, Bitcoin whales have become rather active in executing massive crypto transfers.
Santiment has seen 13,400 Bitcoin transfers in the last three days, with each transaction containing more than $1,000,000 in the flagship cryptocurrency.