According to Odaily, CoinDesk senior analyst James Van Straten has released a market analysis indicating that Bitcoin (BTC) is currently just a few percentage points away from its all-time high of approximately $112,000. Despite the proximity to this peak, large holders, or 'whales'—investors holding over 10,000 BTC—have been increasing their holdings, signaling confidence in future price increases.
Data from Glassnode's trend accumulation score reveals that not only have whale wallets entered an active 'accumulation mode,' but medium-sized wallets holding between 1,000 and 10,000 BTC have also begun significant purchases. In contrast, smaller holders, including those with less than 1 BTC or between 10 and 100 BTC, have mostly opted to reduce or distribute their holdings over the past few months.
This stark contrast, with Bitcoin's price stabilizing around $109,000, suggests a potential market shift from retail investors to institutions or high-net-worth individuals. The accumulation score indicates that strong buying interest emerged after Bitcoin hit a local low of approximately $76,000 in mid-April.
The increase in holdings by large investors near historical highs is further seen as a bullish signal, suggesting they may be positioning themselves for future price increases.
