On-chain data shows the Bitcoin sharks and whales added to their holdings right before the latest rally in the asset’s price occurred.
Bitcoin Investors Holding Between 10 to 10,000 BTC Bought Ahead Of Rally
According to data from the on-chain analytics firm Santiment, the large BTC holders scooped up a significant amount of the asset before the news of Grayscale’s win against the US Securities and Exchange Commission (SEC) broke out.
The relevant indicator here is the “BTC Supply Distribution,” which tells us about the total amount of Bitcoin each holder group in the market carries in their combined wallets.
Addresses or investors are divided into these groups based on the number of coins that they are currently holding. For instance, the 1 to 10 coins cohort includes all wallets with a balance of at least 1 BTC and at most 10 BTC.
In the context of the current discussion, all cohorts falling within the 10 to 10,000 BTC range are of interest. Holders with addresses of these si
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