Analysts worry that the growing number of whales on the cryptocurrency market may be a key indicator of the next bitcoin bull Run

WhaleMap data indicates that large investors are transferring their wealth to bitcoin and ether.The number of bitcoin whales has increased significantly in recent months. According to a recent network analysis by Messari, more than 20% of all bitcoins moved to the above-mentioned coins.The analysis service Messari recently noted that as the number of bitcoin whales increases, this trend may indicate a Bitcoin breakout.As bitcoin has attracted a large number of whales, some investors seem to be betting that its price will skyrocket. According to a recent tweet from crypto analyst David Derhi, the number of whale wallets on BitMEX has reached over 1.5 million. While this may sound impressive, it is still a very small number compared to the previous bull rally in 2017. Yearn Finance data also indicates that the number of whale wallets has increased, which also belies the assumption that many investors transfer their wealth to bitcoin and ether.DeFi tokens have outperformed bitcoin since the start of the rallyIn recent months, DeFi tokens have outperformed bitcoin. For example, the total value of FrSky, a decentralized financial system that relies on the blockchain, is now $ 14.5 billion. Meanwhile, the number of ether hodlers, also known as "holder tokens", has grown to 2.75 million.Some analysts even believe that the current DeFi boom is a sign that the time of bitcoin is finally here. "Since bitcoin broke the $12,000 resistance, DeFi tokens have outperformed bitcoin in recent months," explained crypto analyst David Donovan.Donovan quoted a Twitter user who claimed that DeFi tokens have been trading sideways for more than a year, showing "horizontal absorption". "This is a strong signal for the bitcoin price," he added.DeFi tokens have outperformed bitcoin since the start of the rally, but analysts disagree on whether this is a bullish or bearish sentiment. Some believe that the growth of DeFi is the result of institutional inflows, while others argue that the rapid growth of DeFi is a healthy correction. "Able to absorb a larger portion of the available supply of bitcoin," he said. Donovan. Neither theory is particularly new, and the exchange's data suggests that there is currently a large demand for DeFi assets.Will bitcoin bounce back?Traders have been waiting for bitcoin since July 21, when the main cryptocurrency dropped from the $ 12,000 resistance. Since then, the price has increased, and the price on exchanges has increased. is now well above the $ 11,000 level. Can BTC's rebound from $ 11,000 and overcome the $ 12,000 level?This high price indicates a positive trend, as it broke the previous all-time high and reached a five-month high of $ 12