The number of large bitcoin holders has reached a historic high

According to experts from Glassnode, a research company, the number of cryptocurrency wallets holding more than 1 BTC has reached its historical maximum.

As analysts have found, there are currently 977,750 addresses that hold more than 1 BTC $77,993.41 Mezo Wrapped BTC -0.94% Market capitalization $0.1 billion VOL. 24 hours $1.44 billion - this number is constantly growing. Members of the cryptocurrency community believe that this could be a positive boost for the flagship cryptocurrency.

Reaching a historical high among large BTC holders shows that traders and investors believe in the long-term prospects of bitcoin. The massive accumulation of digital gold may signal the beginning of a bull market. Often, it is the activation of large investors that stimulates the growth of cryptocurrencies. For example, in early December, when ethereum whales resumed investing in ETH $2,313.80 Bridged Ether (StarkGate) -3.06% Market capitalization $40.56 million VOL. 24 hours $0.89 billion for the first time since the FTX bankruptcy, the digital asset’s price rose by 9%.

It is worth noting that long-term hodlers usually invest in cryptocurrencies during market downturns, expecting to make a profit in the long run. Long-Term Hodlers (LTH) create strong support for the bitcoin market bottom. According to Glassnode, LTHs control the majority of the flagship cryptocurrency (80%), while the rest of the supply is held by short-term STH holders — Short-Term Hodlers (20%).