A recent analysis by Santiment has revealed noteworthy changes in Bitcoin ownership patterns, shedding light on the evolving cryptocurrency market landscape.
Non-whale Bitcoin wallets, holding less than 100 BTC, have reached a new high, comprising 41.1% of the total supply, indicating increasing interest from retail and smaller investors.
In contrast, whale addresses, with 100 to 100,000 BTC, now hold 55.5% of the total Bitcoin supply, their lowest level since May. This change could affect Bitcoin’s price movements, as whales have historically played a significant role.
Moreover, CryptoQuant’s data indicates a consistent decline in Bitcoin outflows from exchanges since July 2021, with just over two million BTC left on exchanges. This suggests a growing preference for private wallets, often associated with long-term bullish sentiment.
Examining exchange data, Binance holds the largest amount of Bitcoin, but it has seen significant outflows, possibly indicating a shift to self-custody solutions. Coinbase Pro and Bitfinex also saw withdrawals during the same period. However, OKX recorded a notable Bitcoin inflow, potentially indicating its appeal to new traders or investors.
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