Bitcoin whales have increased their holdings by $3 billion, reaching a balance of nearly 7.8 million BTC since the year's start.

The number of addresses holding over 1,000 BTC has hit a new yearly high.

Wealth concentration in Bitcoin is growing, with more accounts holding between 10K-100K BTC.

There has been a recent 1.31% drop in whale holdings, suggesting market volatility.

Bitcoin's price peaked at $49,000, then fell below $40,000, and was $42,120 as of Jan. 27.

Analysts suggest Bitcoin may consolidate between $37,000 and $48,000 in the near term, with altcoins gaining attention.

Long-term predictions for Bitcoin's price remain bullish, with potential growth and a surge to $10 million in the next decade.