The price of Bitcoin surpassed $67,000 recently as data from the blockchain indicates that the number of large investors, or whales, has been increasing. Bitcoin’s rise has coincided with a rise in the number of whales on the network. According to analyst Ali’s latest post on X, there is a connection between the price of the cryptocurrency and the total number of entities holding at least 3,000 BTC. An “entity” is a group of addresses owned by the same investor, identified through advanced heuristics by on-chain analytics firm Glassnode. Entities with over 1,000 BTC are commonly known as “whales.” At the current rate of asset exchange, the minimum investment for this group is around $66.5 million. These investors are significant in size, which means they can potentially transfer large sums of money quickly within the network, giving them significant influence in the market. Therefore, it is important to monitor the actions of these large investors, as it could impact the entire sector. One method for monitoring the movements of these large entities is by keeping track of their total count. The graph provided illustrates the increasing trend in the total number of whale entities on the network. According to @ali_charts on X, the metric has been steadily rising in recent days. The data in the graph indicates that the number of Bitcoin entities holding a balance of at least 1,000 BTC has been rapidly increasing, indicating potential buying activity in the market. The graph suggests that increases in the metric have corresponded with spikes in the asset’s price. This implies that these massive entities have been playing a role in fueling these rallies. Thus far, these whales have not started distributing their assets as their numbers continue to rise. Therefore, it may be wise to keep an eye on this indicator in the near future, as a change in direction could signal a decrease in price. If the rally continues to rise, the chances of powerful entities selling off their shares for profit also increases. If the number of these entities continues to increase, it may suggest that demand is outweighing profit-taking. Exchange-traded funds, including whales, appear to have participated in selling today according to smart-money tracker Lookonchain. It seems that most ETFs, except for Grayscale Bitcoin Trust, have been selling and losing BTC since they were first approved. The remaining ETFs continued their usual pattern of net buying, but because Grayscale sold off some of its holdings, the overall change in the ETFs’ assets was negative by 3,686 BTC in the previous day. BTC Price.