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Number of Mid-Sized Bitcoin Whales Hit New All-Time High as BTC Surged Above $38,000

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Thu, 02/04/2021 - 13:17
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Yuri Molchan
Glassnode data aggregator reported that the amount of wallets holding over 1,000 Bitcoins hit a new ATH, while BTC reached the $38,400 area earlier today
Number of Mid-Sized Bitcoin Whales Hit New All-Time High as BTC Surged Above $38,000
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In one of their recent tweets, the team at analytics data provider Glassnode has shared a chart showing that the number of medium-sized Bitcoin whales has reached a new all-time high.

Meanwhile, earlier today, the largest cryptocurrency by market cap surged to the $38,438 level and then rolled back to $37,019.

Number of addresses with 1,000+ BTC hits a new all-time high

The amount of wallets with more than a thousand BTC has hit a new peak of 2,472, according to Glassnode data.

The same is happening with retail investors who own one Bitcoin or more than that. The number of these lightweight wallets has surged to a one-month high of 828,646 after a similar peak recorded on Jan. 10.

Back then, this figure totaled 828,575, which signals growth by 71 percent within three weeks.

BTC
Image via Twitter

Bitcoin rallies above $38,000

In the early hours of Feb. 4, Bitcoin demonstrated a sharp rise to the $38,400 zone from $37,885, according to data shared by CoinMarketCap.

Later on, the flagship cryptocurrency rolled back to the $37,000 support.

A day before, it started rising from $35,823 first to the $36,500 zone and then reaching the $37,000 mark.

BTC
Image via CoinMarketCap

One of the factors was the massive inflow of USDT (hundreds of millions) to crypto exchanges, recorded by Glassnode.

At press time, BTC is changing hands at $37,617.

Elon Musk removes "Bitcoin" from his Twitter bio

Earlier today, Tesla chief Elon Musk, who recently tagged Bitcoin in his Twitter bio and admitted to being a BTC supporter, posted several tweets dedicated to Dogecoin, a meme cryptocurrency, ranked 12.

Elon Musk is a long-term lover of this cryptocurrency and once he even speculated that, in the future, it may become the "currency of earth in the future." Today he referred to DOGE as "the people's crypto."

This pushed the coin up more than 50 percent, driving up Bitcoin too.

However, it turned out today that Musk no longer has "Bitcoin" in his Twitter bio.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.