Despite the bearish trend in the cryptocurrency market, Bitcoin has seen a significant surge in high-profile investors, with the number of substantial holders, often referred to as whales and sharks, reaching record highs since February 2022. This data comes from Santiment, which reported an 8.12% increase in large Bitcoin wallet accounts over the past twenty months, adding 11,806 new addresses.
The confidence of these large stakeholders is evident as transactions exceeding $100,000 have collectively reached nearly $37 billion, according to data from IntoTheBlock. This past weekend marked two significant transactions on Coinbase (NASDAQ:COIN) and ByBit involving a total of over $100 million or 4,448 BTC. This level of Bitcoin holdings harks back to that seen in 2019, underlining a resurgence of interest in the premier cryptocurrency.
On Monday, Bitcoin traded at $27,759.75 with its 24-hour trading volume showing a remarkable increase of 181.17% to reach $13.69 billion. This represents a 3.2% daily increase and a 0.60% weekly growth. According to CoinMarketCap's data, Bitcoin's total circulating supply stands at 19.52 million tokens, contributing to its market cap of $5419.14 billion.
This surge in substantial holdings and large transactions underlines an active investor base for Bitcoin despite the overall bearish trend in the crypto market. It also highlights the enduring appeal of the first-ever cryptocurrency among high-profile investors.
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