The number of BTC whales holding a minimum of ten thousand Bitcoins is at a yearly peak of one hundred and eleven. The aforementioned development is according to Santiment’s team. The project’s team also emphasizes that the number of BTC addresses holding between one thousand and two thousand is at 2,129. This number is six addresses away from the all-time high value of 2,135.
The high number of Bitcoin whales holding more than one thousand BTC, is strong indication that they are assured apropos the long-term value of the largest cryptocurrency by market cap. This in turn means that BTC investors still consider Bitcoin as digital gold and an effective hedge against inflation.
A good indicator of the FOMO surrounding BTC is the fear and greed index which presently stands at a value of eighty-seven. Last time, the index was this high and around the same time BTC touched its 2019 top of $14k.
Consequently, Bitcoin traders and investors should be alert that Bitcoin is in the midst of running out of bullish momentum, at least for this month of November.
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