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Bitcoin Addresses >1K

Updated: Apr 11, 2023

Definition:

The number of distinct Bitcoin addresses holding a minimum of 1,000 coins.


Bitcoin addresses > 1K BTC could be called whales, because they own a significant amount of the asset.


For example: As of January 1st, 2023, there were 2,031 unique Bitcoin addresses holding a minimum of 1,000 BTC. The price of Bitcoin on that day was around $16,600, translating to a minimum value of $16.6 million per wallet.


In the photo below, you can see how many bitcoin addresses held over 1,000 coins since 2010. At it's peak, there were nearly 2,500 addresses that held 1,000 BTC or more.



What to watch for:


Buy into weakness: Whales tend to accumulate positions during or shortly after market lows, when prices are at their lowest. As prices fall, the number of whales tends to increase.


Sell into strength: Whales tend to liquidate their positions during or shortly after market highs, when prices are at their highest. As prices rise, the number of whales tends to decrease.



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