Bitcoin Holdings By Large Wallets Reach 2-Year High Amid Market Dynamics

Wallets holding 10 or more Bitcoin have collectively reached their highest level of holdings since two years ago. This milestone comes in the wake of significant changes in the cryptocurrency market, including a remarkable 226% increase in Bitcoin’s market value.

Speculation abounds that FTX was actively suppressing cryptocurrency prices in the second half of 2022.

However, since the exchange’s collapse in November 2022, there has been a notable correlation between the holdings of wallets with 10 or more BTC and Bitcoin’s overall market value. This suggests that larger investors are playing a significant role in the current market dynamics.