Santiment reports a 2.6% growth in Bitcoin whale wallets over the past five weeks, marking the highest level since December 2024.
This growth comes amid Bitcoin experiencing lacklusture performance in recent weeks. After hitting a low near $81K yesterday, Bitcoin is now on a recovery run, climbing back up to around $84K by April 1.
Despite the market’s volatility, positive trends have emerged, particularly in the growth of Bitcoin whale wallets. Wallets holding between 1,000 to 10,000 BTC have seen a noticeable increase, as shared by market intelligence platform Santiment.
Bitcoin Whale Wallets Are Growing
In the last five weeks, the number of these whale wallets has grown by 2.6%, reaching a total of 1,993. This marks the highest level of such wallets since December 2024.
While market conditions have been volatile, this rise in whale wallet numbers suggests that key stakeholders continue to show confidence in Bitcoin’s potential.
Bitcoin welcoming 50 more new whales
Long-Term Holder Confidence
Further analysis from IntoTheBlock confirms a surge in Bitcoin accumulation by large holders, which is contributing to the growing sense of stability. Over the past week, large holder inflows have increased by a dramatic 2,709.80%, with a 567.83% rise over the past 30 days.
This consistent accumulation over the last three months suggests that large holders are steadily increasing their positions despite short-term market fluctuations.
Bitcoin Large Holder Inflow | IntoTheBlock
Bitcoin Exchange Inflow Volumes Stabilizing
Meanwhile, Bitcoin’s inflow volumes to exchanges have also displayed signs of stabilization. Over the past 24 hours, inflows decreased by 0.98%, pointing to a stabilization in the supply of Bitcoin moving to exchanges.
Bitcoin Exchange Inflow Volume | IntoTheBlock
However, the 7-day and 30-day changes reveal an increase in inflows, with a 17.93% rise in the past week and a 53.22% rise over the last 30 days. These figures indicate that while more Bitcoin entered exchanges during the recent price decline, the recent influx is slowing.