Santiment: Whale and shark addresses have accumulated over 61,000 Bitcoin in the past month

PANews, March 27 — According to Cointelegraph, Santiment data shows that over the past month, whale and shark addresses holding between 10 and 10,000 Bitcoin have increased their holdings by 61,568 Bitcoin, a growth of 0.45%. During the same period, addresses holding less than 0.01 Bitcoin accumulated 213 Bitcoin, an increase of 0.42%. The data indicates that Bitcoin exchange outflows continued throughout March, suggesting holders are accumulating rather than selling.

Santiment analysts state that whale accumulation may be a "positive signal" for a breakout from the current price range. Historically, when large wallets accumulate and retail investors sell, it often signals the start of a bull market cycle. The Middle East conflict has continued to escalate since the US and Israel launched strikes against Iran in February.