Bitcoin’s (BTC) recent price surge continues to be a “whale’s market,” according to the crypto analytics firm Santiment.
Santiment notes on Twitter that whale addresses holding between 100-1,000 Bitcoin have accumulated 85,700 BTC, worth $4.78 billion, since the largest crypto asset’s late-September price bottom.
Whales of that size currently hold 21.3% of the total supply, an all-time record, according to the firm.
Bitcoin is trading at $57,579.46 at time of writing, up nearly 20% on the week and 33% in the past 14 days, according to CoinGecko.
Holders also appear to be dominating the current BTC bull market. On-chain analyst William Clemente tells his 306,900 Twitter followers that 85.1% of Bitcoin’s supply hasn’t moved in at least three months, another all-time high.
Crypto insights firm Glassnode says that an increase in Bitcoin HODLing (hold on for dear life) activity tends to be a precursor to rallies to fresh all-time highs.
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