Large investors or so-called "whales" continue to hoard bitcoins.
Analysts have found that at the moment they have accumulated up to 2.2% of the total market supply of the cryptocurrency.
We are talking about investors controlling 100,000 or more BTC, according to the team's report. The number of such addresses has reached an 11-month high. The last time a similar situation was observed at the beginning of May last year.
The researchers emphasized: "The percentage of Bitcoin supply held by whale addresses with 100,000 or more BTC rose from 0.76% to 2.2%, reaching an 11-month high."
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At the same time, Santiment reports that the number of bitcoin addresses containing between 1,000 and 100,000 coins, by contrast, has decreased from 42.5% to 39.5% in the last 11 weeks.
Bitcoin, on Monday, April 12, is trading at $61,000, cryptocurrency capitalization exceeds $ 1.139 trillion. The breakout of BTC above $60,000 at the end of last week was of great importance.
The coin finally received enough support to overcome resistance.
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Volatility has exacerbated after a long lull in the market. The cryptocurrency price fluctuation index was at a five-month low. Turbulence led to an increase in the price, and not to its rollback, as some experts had previously predicted.