- Bitcoin wallets holding >10K BTC show near-perfect accumulation.
- 1K–10K BTC wallets score 0.7, signaling strong buying pressure.
- Accumulation could trigger a supply squeeze if demand rises.
Large Bitcoin holders, “whales,” are at it again with an aggressive accumulating spree. According to Glassnode data, wallets holding over 10,000 BTC have resumed near-perfect accumulation behavior, showing a trend accumulation score of 0.9, the strongest in recent times. This whale resurgence comes as Bitcoin pushes back above the $90K level, suggesting these deep-pocketed players are positioning for a potential major leg up.
Glassnode’s trend accumulation score, which tracks whether wallet groups are net buying or selling, shows similar conviction among mid-sized holders. Wallets with 1,000–10,000 BTC boast a strong 0.7 score, while the 100–1,000 BTC cohort is trending towards 0.5, indicating broad-based buying strength.
$5B Bitcoin Haul Since March Echoes Pre-Rally Behavior
Since the beginning of March, Bitcoin whales have accumulated tens of thousands of BTC valued at over $5 billion. The last time we saw such aggressive whale accumulation, $BTC was below $40,000; just before it rallied over 80% over the next two months.
Related: Digital Gold vs. Real Gold: Bitcoin’s Volatile Rally Closes In on $3.5K+ Gold
Market watchers have also noted the accumulation trend of ‘new’ whales, touted as one of the most aggressive buying since 2014.
This renewed whale appetite signals strong conviction that Bitcoin’s macro backdrop is improving. Factors like expectations of monetary easing, rising global debt concerns, and growing demand for hard assets seem to be pushing institutional and high-net-worth investors towards Bitcoin as a hedge against fiat currency risk.
Potential Supply Squeeze? Coordinated Buying Raises Concerns
Historically, heavy whale accumulation often precedes supply squeezes, where reduced available BTC struggles to meet rising demand, particularly from retail. With Bitcoin ETF inflows ramping up and talk of sovereign BTC adoption resurfacing, analysts warn that the market could soon face a “liquidity crunch” if this coordinated buying pace continues.
Related: Bitcoin Hits $94,000 with Short Liquidations and Growing Investor Confidence
What stands out this time is the synchronized buying across different whale sizes. Past accumulation phases were often more scattered. This time, however, the coordination suggests a broader alignment in expectations, and Bitcoin may be entering a phase of strategic long-term holding.
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