Analyst: Bitcoin whales continue to increase their holdings at historical highs, indicating that they may be planning ahead for future increases

Odaily Planet Daily News CoinDesk senior analyst James Van Straten released a market analysis saying that Bitcoin (BTC) is currently only a few percentage points away from its historical high of about $112,000. Despite the high price, large holders (whales) - investors holding more than 10,000 bitcoins - have continued to increase their positions recently, which is seen as a signal of their confidence in the future market rise. According to Glassnode's trend accumulation score data, in recent days, not only whale wallets have entered an active "position increase mode", but also medium-sized wallets holding 1,000 to 10,000 BTC have begun to buy in large quantities. In contrast, small holders (including wallets holding less than 1 BTC or 10 to 100 BTC) have mostly chosen to reduce their positions or distribute their holdings in the past few months. This obvious contrast - when the price of Bitcoin stabilized at about $109,000 - may mean that the market is experiencing a round of chip transfer from retail investors to institutions or high-net-worth investors. The cumulative score shows that strong buying interest began to emerge after Bitcoin hit a local low of around $76,000 in mid-April. This accumulation of large holders near all-time highs is further seen as a bullish signal, indicating that they may be positioning themselves for future price increases.