Summary
TLDR: Bitcoin’s price is showing bullish indicators with a rise in wallets holding at least 1,000 BTC and a decrease in BTC supply on Coinbase. This scarcity, along with technical momentum, suggests a potential bull run. Whale accumulation indicates institutional interest, signaling a positive market trend. A new all-time high for BTC could be on the horizon if current trends continue.
Key Points
1. The number of wallets holding at least 1,000 BTC has been consistently growing over the past five days, indicating bullish sentiment in the market.
2. There has been a significant withdrawal of Bitcoin from exchanges, particularly Coinbase, leading to a scarcity of BTC on trading platforms.
3. The recent surge in whale activity, with an increase in the number of addresses holding large amounts of BTC, suggests institutional interest in Bitcoin and may signal a potential bull run in the near future.