Recently, the Bitcoin market has seen a new wave of accumulation. Since March, the number of wallets holding Bitcoin for less than six months has increased by 3.1% of the BTC supply, accounting for 5.6% of the total, showcasing positive buying behavior.
Bitcoin is consolidating near historical highs, with market participants remaining cautious, but new accumulation activities are brewing. In particular, the newly emerged 'whales' (wallets holding at least 1,000 Bitcoins with an age of less than six months) are actively accumulating Bitcoin.
According to on-chain data from CryptoQuant, the holdings of these new entrants have more than doubled from March 1 to June 4, 2025, increasing from approximately 500,000 BTC to 1.1 million BTC, worth about $63 billion. This portion of Bitcoin's share in the total circulating supply surged from 2.5% to 5.6%, representing a significant shift in market structure.
Analysts further point out that we are currently focused on the 'supply held by new whales' metric, which specifically filters out genuine accumulation behavior while excluding long-dormant cold wallets, thus more accurately reflecting the inflow of new capital in the market. This accumulation is viewed as a potential precursor to supply tightening, usually associated with increased upward volatility.
Currently, the market is closely monitoring the flow of funds among BTC holders, ETF positions, derivatives financing, and whale liquidity differences to find clues about market direction. This trend may significantly change due to the entry of aggressive buyers before macro catalysts emerge, thus affecting Bitcoin's short-term trajectory.
The latest observations from Glassnode align with findings from CryptoQuant, showing that Bitcoin whale holders have resumed accumulation after a brief sell-off. These on-chain behaviors indicate that market confidence is strengthening following recent price consolidation and macroeconomic uncertainty.
According to the latest report from Sygnum Bank, the surge in institutional demand is leading to a shrinkage in Bitcoin supply, with ETF inflows causing exchange balances to drop by 30%, which is also seen as a sign of long-term accumulation.
In addition, the interest of various governments (including the U.S., U.K., Brazil, and China) in using Bitcoin as a reserve asset is growing rapidly. Sygnum believes these key factors may trigger demand shocks and price volatility.
Conclusion:
The recent accumulation trend in the Bitcoin market indicates that even amidst price volatility and macroeconomic uncertainty, investor interest in Bitcoin remains strong.
The emergence and accumulation behavior of the new 'whale' group not only reflects enhanced market confidence but may also signal further price increases in the future.
With the increase in institutional demand and the rising interest of governments in Bitcoin, the long-term prospects for Bitcoin look brighter.
What are your thoughts on the current accumulation trend of Bitcoin? Do you think it's a good time to accumulate Bitcoin in the current market environment? Leave your views in the comments!