Bitcoin whales continue to increase their holdings in April, and the number of large wallets hits a four-month high

according to Cointelegraph, despite the recent decline in Bitcoin price in early April, whales are still actively accumulating. Glassnode data shows that since early March, the number of wallets holding over 1,000 bitcoins has increased by more than 60, reaching 2,107 on April 15, setting a new high in four months. This data has returned to the levels seen during the market rally in November and December last year.

Meanwhile, the price of Bitcoin has broken out of the consolidation phase that began in early March, rising back above $87,400 on April 21 for the first time since March 28. Analysts believe that the breakout from the multi-month descending wedge pattern in Bitcoin's chart may signal a bullish reversal, with the price expected to return to five digits in May.