- Bitcoin whales have accumulated over 53,600 BTC in 4 weeks, pushing their total holdings to a record 13.45M BTC (67.77% of supply).
- Large holders steadily increased positions despite BTC’s price swing, signaling strong long-term confidence.
- A breakout above $86K could trigger momentum rallies; continued whale accumulation may present strong buy signals on pullbacks.
Crypto data intelligence platform Santiment has spotted an interesting on-chain movement: from March 22 to date, Bitcoin “key stakeholders” have accumulated over 53,600 BTC. These large holders, usually wallets holding between 10 and 10,000 Bitcoin, now hold about 67.77% of the BTC in existence.
Whale Accumulation Hits Record High Amid Volatility
Santiment data shows that whale wallets holding 10 to 10,000 BTC have accumulated more than 13,45 million of the coin. This represents a brand new record for holdings by this key stakeholder group, accounting for roughly 67.77% of the total Bitcoin in existence. Per further on-chain reports, this group added a net 53,652 BTC over the last 4 weeks, starting March 22.
The trend of this accumulation has been ongoing even during April’s volatile market. As Bitcoin’s price fluctuated between $87,000 and $82,000, these huge holders kept adding to their stash of Bitcoins. This upward trajectory of holdings, even in times of market unease, indicates that these entities are not responding to short-term price movements. Instead, they are establishing long positions, indicating a positive outlook.
Such behavior by whales is usually significant as they often serve as an indicator for broad market trends. In the past, large holders have typically accumulated over a long period preceding or during prominent sideways advances in Bitcoin’s price. In acquiring more BTC when consolidation or pullback time comes, these wallets also effectively reduce the liquidity available to the market. In turn, this trend puts upward pressure when demand resumes.
BTC Eyes Breakout as Whale Confidence Builds
The stakeholders’ BTC holdings have surpassed all previous highs, reinforcing the narrative of growing conviction among these large holders. They appear to be capitalizing on current price levels, likely viewing them as favorable accumulation zones ahead of a potential breakout.
For market participants, this trend is a key signal to monitor. If price action begins to break out above current resistance levels, particularly the $86K mark, it could lead to momentum-driven rallies fueled by FOMO. However, buyers need to step in at this level for this prediction to hold. Conversely, if price experiences a pullback while accumulation persists, it could present a strong buying opportunity based on underlying fundamentals.
At the time of writing, Bitcoin is changing hands at $85,237 after rallying modestly in the past day. It has rallied 32% Year-to-date (YTD) and bettered the performance of several crypto coins in the period. In the past month, BTC has seen 15 days of green trading, bringing it to its cycle high of $86,455. In addition, its 24-hour volume-to-market cap ratio is 0.0116, indicating healthy liquidity. However, the coin is still positioned below the 200-day SMA, per Coincodex data.
