Bitcoin [BTC] whales are on the move again, will this kickstart a new rally?

Bitcoin whales started to show interest in the king coin yet again. Should retail investors be skeptical of a rally?

ReadAs BTC prices reached $30,000, whales started exiting their positions, leaving retail investors in the dust. However, it was recently observed that whales have started to show interest in accumulating BTC yet again.

As per the data provided by Santiment, during the slight dip and wavering of prices, the addresses that held 100 to 10,000 BTC added a total of 64,094 coins to their pile since 11 April.Due to the high interest in BTC from whales, the BTC supply per whale value reached a stable number ofWhen there is a high accumulation of Bitcoin by whales, it suggests that these large holders have a bullish sentiment toward the cryptocurrency.

Though whales dominating the BTC supply may impact BTC prices positively in the short term, it could make retail investors more vulnerable. According to glasssnode’s data, the number of addresses holding 0.01 coins has reached an all-time high. This suggested that retail investors continued to show faith in BTC.

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