Bitcoin Whales Increase By 103 Within 30 Days

Bitcoin took the journey, on Monday from the opening price at $19571.30 to $20199.30 at the time of writing. It last traded at this level in July when the bulls took over the market and initiated an uptrend.

Since a big stone was thrown into the market waters by Jerome Powell’s comment on Friday 19 August, Bitcoin had declined by 7%. Out of the $123.13 million taken out of the cryptocurrency market in the last 24 hours, Bitcoin [BTC] liquidations within the same period totaled $25.30 million.

Despite the consistent decline in Bitcoin price, major whale addresses have increased their Bitcoin holdings during the last month. In the last 30 days, however, addresses holding between 100 to 10,000 Bitcoins have grown by 103. This brings the cumulative addresses on the Bitcoin network holding between 100 to 10,000 BTC to 15,847 addresses and one crucial question to ask is whether this will be enough to drive up the price in the short term.