Bitcoin Whale Addresses Surge to Highest Since 2024, Fueling Bullish Momentum

The number of Bitcoin whale addresses holding between 1,000 and 10,000 BTC has climbed to 2,014, up from 1,944 on March 5, according to on-chain data provider Glassnode. This 3.5% monthly increase marks the highest level of large-scale BTC holdings since April 2024, a period that preceded a major crypto market rally. The sharp uptick highlights growing institutional interest and signals a potential bullish breakout if past trends repeat.

This accumulation trend confirms renewed whale activity as Bitcoin's price regains momentum. BTC is currently trading at $84,084, up 9.48% over the past seven days, according to CoinMarketCap. The increase in large wallets suggests that high-net-worth investors are positioning themselves to capitalize on the current market upswing, anticipating future gains.

Further supporting this narrative, blockchain tracker Whale Alert reported a major Bitcoin transfer involving 1,000 BTC on April 15, moved from a prominent U.S. exchange to an unknown wallet. U.Today also noted a separate $84 million BTC withdrawal, underscoring the growing trend of long-term accumulation and reduced exchange exposure among whales.

The rise in large Bitcoin addresses is a strong on-chain signal pointing toward heightened confidence among institutional players. As whale activity intensifies alongside price growth, market analysts are speculating about a potential new all-time high in the coming quarter. With history as a guide, the current data may be foreshadowing another significant Bitcoin rally, fueled by strategic accumulation and decreasing market supply.