Data: Santiment, whale and shark addresses have collectively increased their holdings by over 61,000 bitcoins in the past month

According to Cointelegraph, Santiment data shows that in the past month, whale and shark addresses holding between 10 and 10,000 bitcoins have increased their holdings by 61,568 bitcoins, a growth of 0.45%. During the same period, addresses holding less than 0.01 bitcoins have increased their holdings by 213 bitcoins, an increase of 0.42%. The data indicates that bitcoin outflows from exchanges have continued throughout March, suggesting that holders are accumulating rather than selling.

Santiment analysts state that whale accumulation could be a "positive signal" for a price range breakout. Historically, when large wallets accumulate while retail investors sell, it often signals the beginning of a bull market cycle. The conflict in the Middle East has continued to escalate since the U.S. and Israel launched strikes against Iran in February.