Glassnode: The number of whale addresses holding over 1,000 BTC has risen significantly since last Friday

BlockBeats News, November 18 — Despite continued pressure in the crypto market this week, the number of Bitcoin whale wallets has surged against the trend. Glassnode data shows that since the end of October, whales have continued to accumulate, and the number of addresses holding more than 1,000 BTC has risen significantly since Friday.

On October 27, when the BTC price was at a high of $114,000, the number of whale wallets dropped to an annual low of 1,354. However, as of this Monday, the figure has rebounded by 2.2% to 1,384, reaching a four-month high. Meanwhile, Glassnode indicators show that smaller investors holding more than 1 BTC may be one source of selling pressure. The total number of such wallets has continued to decline from 980,577 on October 27 to an annual low of 977,420 as of November 17.

This confirms a typical pattern in the crypto market: when retail investors panic sell during sharp declines, whales often take the opportunity to accumulate. Markus Thielen, founder of 10X Research, stated that there is still some whale selling pressure and emphasized that the Federal Reserve's October 29 FOMC meeting has had a profound impact on the current market. The meeting statement broke the fragile balance between buyers and sellers, specifically between the super whales holding 1,000–10,000 BTC selling and the whales holding 100–1,000 BTC buying. Although super whales are absorbing some of the sell orders, 30-day net flow data shows that selling still dominates.