Whale wallets have been aggressively buying bitcoin over the past few weeks.
According to the Glassnode platform, the largest addresses controlling at least 1,000 coins took advantage of the winter sales and market decline. They have significantly increased their reserves in BTC.
Now the number of wallets holding a thousand or more bitcoins is at a ten-month high, according to the researchers' report.
The last time a similar situation was observed was in May last year when the market found a bottom after the collapse. Then a long phase of consolidation began, which was replaced by an increase in the cost of bitcoin at the end of the summer.
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Analysts do not exclude that the activation of whale wallets in February just signaled the achievement of a local bottom. Now stagnation has begun, and BTC is already trading in a tight range.
However, soon the trend will change dramatically, and in April the rally will resume, observers predict.
On the night of Wednesday, March 2, Bitcoin is trading at $43,800. The capitalization of BTC is just over $830.015 billion.