$BTC Can Whales Drive Bitcoin to $110K? 83,105 BTC Accumulated During Price Surge

On-chain data from Santiment indicates that large Bitcoin wallets are accumulating BTC, while smaller holders are reducing their positions, even as Bitcoin’s price continues to climb.

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Bitcoin has sustained its upward momentum following a strong rally last week, briefly surpassing $105,000.

The crypto asset began its ascent in the final week of April, breaking through the $90,000 level and reclaiming key psychological thresholds above $100,000. As of today, Bitcoin is trading at $103,768.

However, beyond price action, wallet data reveals a divergence in behavior between large and small holders, pointing to a potential shift in market sentiment.

BTC Whales & Sharks Accumulate as Shrimp Drop

For instance, the market intelligence platform Santiment has tracked wallet activity showing contrasting trends in accumulation. Larger wallet addresses, specifically those holding between 10 and 10,000 BTC—labeled as Whales & Sharks—

Over the past month, this group collectively added 83,105 BTC. This figure is particularly notable based on both volume and speed.