Bitcoin whales, holding between 100 and 1,000 BTC, have increased their holdings by 122,330 BTC in the last six weeks, according to Santiment data. This accumulation signals strong confidence among high-net-worth investors. The number of whale wallets has grown by 337 in the same period.
Glassnode reported a similar trend, noting an increase in wallets holding 1,000 BTC or more. These large investors now number 1,455 entities, even after Bitcoin's recent all-time high. This resurgence of whale activity suggests a bullish short-term outlook for Bitcoin's price, currently hovering above $107,000.
João Wedson noted that whales are increasingly taking long positions compared to retail investors. Historically, increased whale presence and buying activity have preceded significant market movements. This development could be crucial for Bitcoin's next major price move.
This article is based on our author's analysis of materials taken from the following resources: Santiment, Glassnode, and X platform.