Over 200 New Bitcoin Whales Appeared Since the Start of 2021

More than 200 new whale entities have appeared in the bitcoin network since the beggining of 2021, as per the statistics from analytics provider Glassnode.

The number of Bitcoin whales, by which is meant accounts with greater than or equal to one thousand bitcoins, has increased as the cryptocurrency enjoyed a massive winning rally in late December and January.

An increase in Bitcoin Whales points to bullish investor sentiment as large amounts of BTC are being hoarded – which reduces sell pressure.

Since the rally began, the leading cryptocurrency has corrected by 31%, but it has since recovered back to $37,000, just 13.5% short of its all-time high.