Bitcoin 'wholecoiner' wallets surge by 13k in the past week
The total number of 'wholecoiner' wallet addresses has increased to 865,254 in the past week
By Shashank Bhardwaj
Small wallet addresses continue accumulating Bitcoin despite the bear market blues. The number of Bitcoin wallet addresses with one BTC or more rose by 13,091 in the past week. The continued enthusiasm for the largest crypto reflects the optimism in the market, notwithstanding the 2/3rd value drop Bitcoin has witnessed since its November ATH (all-time high).
The downtrend has been accompanied by the number of wholesalers skyrocketing, as represented by the hockey stick growth in the graph below.
Historically, any move below the 200-W MA is seen as a sign of a bounce-back. Retail investors are probably accumulating Bitcoin in anticipation of a price rise, while big whales are looking to cut some of their losses. There are mixed signals in the market, and it is always wiser to wait and confirm the trend reversal before entering the market.
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