Santiment, an on-chain data analyst firm, has recently claimed that ever since Christmas, Bitcoin whales have been buying Bitcoin very aggressively. Most of the Bitcoin supply is going to these high-net-worth investors only. According to the data, it is not at all easy to separate the institutional investors from the individual ones. Bitcoin price has been increasing well and setting records since the past few weeks. Despite this bull rally, there are claims that Bitcoin whales are entering into the market rapidly. The ones that are already there, are aggressively buying one. Bitcoin Whales Transferred $647M Worth Bitcoin from Small Addresses As per the data recorded by Santiment, Bitcoin Whales have transferred around $647 million worth of Bitcoin from small addresses to large ones. The analyst claimed: “Over the last 48 hours since Christmas, #Bitcoin addresses with 1,000 or more $BTC now own 0.13% more of the supply that smaller addresses did previously.” Total tokens will be around 24,158 and this will roughly cost around $647 million at the present rate. It is assumed that the major reason behind this kind of movement by Bitcoin whales is the current bull run. There are claims that if Bitcoin is able to break the barrier at $30,000, it will reach the $36,000 mark. Bitcoin Market Giving Conflicting Signals Byzantine General, a Bitcoin trader, has claimed that the Bitcoin market has been giving several conflicting signals lately. This is because both the long as well as short contract holders have been highly aggressive as the bull run continues. Moreover, it has been seen that the Asian markets are seeing a huge increase in buyer demand as compared to the U.S. market. This is indicating that Bitcoin demand in the U.S. spot market is now cooling down and it might be less volatile there.
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