Bitcoin Nears Record High as Major Investors Ramp Up Accumulation
Bitcoin ($BTC) is inching closer to its all-time peak of around $112,000, currently hovering just a few percentage points below, according to CoinDesk senior analyst James Van Straten. Despite the proximity to historic price levels, deep-pocketed investors—often referred to as "whales"—have been aggressively increasing their Bitcoin holdings, signaling strong optimism about the cryptocurrency's future trajectory.
Data from Glassnode reveals a notable trend: wallets containing 10,000 BTC or more have entered a sustained accumulation phase. Even mid-tier investors, those holding between 1,000 and 10,000 BTC, have joined the buying spree in recent days. However, the behavior of smaller investors paints a different picture—wallets with less than 1 BTC or between 10 and 100 BTC have largely been offloading their holdings over the past few months.
This divergence in investor activity suggests a potential shift in market dynamics, with retail participants gradually transferring their holdings to institutional and high-net-worth players. The trend became particularly pronounced after Bitcoin rebounded from a mid-April dip, when prices briefly touched $76,000.
Analysts interpret the persistent accumulation by large investors near peak prices as a bullish indicator, implying expectations of further upside. With Bitcoin stabilizing around $109,000, this ongoing redistribution of supply could set the stage for the next major price movement.
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