Bitcoin Whales Scoop Up $10 Billion in BTC While Short-Term Holders Face Pressure

New data from IntoTheBlock shows that major Bitcoin (BTC) investors have accumulated over $10 billion in the cryptocurrency over the past six months.

According to the report, large investors holding between 100 and 1,000 BTC have been adding to their holdings despite recent price drops.

These addresses now control 20.3% of the total Bitcoin supply, an increase from 3.82 million BTC to 4.01 million BTC, marking a 5% rise.

During this period, these large holders have added 190,000 BTC to their reserves. However, IntoTheBlock warns that short-term holders, or those who have held BTC for less than 155 days, might be prone to selling if the market declines further.

While 78% of all Bitcoin addresses are currently profitable, those who purchased Bitcoin at higher prices—between $47,000 and $64,000—might face selling pressure, with only 27.6% of these addresses in profit.