According to Santiment data, the number of "shark wallets" holding between 1 and 100 BTC has increased by 3% since the beginning of the year, while the number of "whale wallets" holding 100 BTC or more has slightly decreased by 1% since April. Despite this, Bitcoin remains a profitable investment with an MVRV ratio of 48%.
However, the coin's price is facing resistance at the $30,000 psychological level, and a rally in whale holdings may be necessary for it to break above this level. Santiment advises keeping an eye on the number of large addresses as increased whale activity could lead to another breakout in BTC's price.
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