Bitcoin Whales Increase Holdings as Retail Activity Stagnates

Bitcoin whales holding between 10 and 10,000 BTC have accumulated 41,025 BTC over the past 10 days, bringing their total holdings to 13.64 million BTC, or approximately 67.93% of the total supply. While large holders are increasing their positions, retail wallets holding less than 0.01 BTC have remained largely inactive. According to BIT Research, Bitcoin may have exited its bear market cycle, with the asset now trading above its 21-week moving average and March 2024 highs. With the True Market Mean at $76,897, most holders are currently in profit, which may alleviate selling pressure.