Key Takeaways:
Bitcoin whales with over 1,000 BTC are ramping up accumulation as price hovers near $109,000.
Smaller holders are selling, indicating a supply shift from retail to institutional investors.
Whale behavior suggests confidence in BTC’s upside potential, even near record levels.
Large Bitcoin Holders Show Strong Confidence Ahead of Potential Breakout
Bitcoin whales are aggressively accumulating BTC as the asset trades just below its all-time high, signaling renewed confidence in long-term growth. According to blockchain analytics firm Glassnode, wallets holding more than 1,000 BTC have entered a strong accumulation phase over the past few days, just as Bitcoin trades around $108,772 — roughly 3% below its all-time high of $112,000.
This surge in buying comes in contrast to behavior from smaller investors, who have largely been reducing their exposure. Wallets holding less than 100 BTC — including sub-1 BTC wallets — have been distributing coins steadily since April, marking a clear divergence between retail and institutional sentiment.
Glassnode’s Trend Accumulation Score shows that larger holders, including wallets with more than 10,000 BTC, began ramping up their positions after Bitcoin’s local low near $76,000 in mid-April. This suggests a growing belief among major investors that the recent consolidation could lead to a new upward phase.
The shift in supply from smaller to larger wallets is often interpreted as a bullish signal, especially when it occurs near previous highs. Whales — often considered the “smart money” due to their experience and risk tolerance — appear to be positioning ahead of a potential breakout.
As the market watches closely for a move past $112,000, whale accumulation could provide the momentum needed to push Bitcoin into price discovery once again, according to CoinDesk.
