- Whales are aggressively accumulating Bitcoin, adding over 83,000 BTC in the past month.
- Meanwhile, retail investors are selling off, likely taking profits as BTC nears its all-time high.
Bitcoin (BTC) is once again commanding headlines after a volatile but bullish week saw the asset surge nearly 9%, climbing from $93,760 to over $105,000. While the price has slightly corrected to $102,743 at the time of writing, all eyes remain on who’s behind the moves — and what it means for the market.
BTC’s latest rally puts it just 5.89% shy of its all-time high of $109,114.88, reached back in January 2025. As momentum builds, the market is clearly split: large holders, or “whales,” are accumulating, while smaller retail investors are opting to cash out.
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According to on-chain data from Santiment, whale and shark tiers — wallets holding between 10 and 10,000 BTC — have added a whopping 83,105 BTC in just the last 30 days. In stark contrast, retail investors — those with less than 0.1 BTC — have dumped 387 BTC over the same period. Even holders with slightly larger portfolios have shown signs of profit-taking, likely betting that BTC is nearing its peak.
This divergence suggests two narratives. On one hand, retail investors may be nervous about macroeconomic factors or simply locking in gains. On the other, institutional and high-net-worth players are doubling down, likely viewing Bitcoin’s current range as a buying opportunity before another potential leg up.
Analysts believe this behavior could foreshadow a bullish continuation. Whale accumulation often precedes sharp upward movements, especially if accompanied by reduced selling pressure from smaller wallets.
Still, the market remains unpredictable. With Bitcoin’s price now hovering above $100K, every move is under scrutiny. Will the whales’ buying spree be enough to push BTC to a new record high? Or will retail selling continue to create resistance?
One thing is clear: the battle lines are drawn, and Bitcoin’s next move could redefine the trajectory of the crypto market in 2025.