A new dynamic is observed among the main Bitcoin holders. In recent weeks, the number of wallets with more than 100 BTC has reached its highest level in 17 months. This shows a marked resurgence of interest from whales, these major investors in the sector. In the space of 30 days, these major players have accumulated more than 133,000 BTC, or a colossal sum of $7.6 billion. This record accumulation comes at a time when small investors, alarmed by market fluctuations, are shedding their assets, which creates a contrast in investment behavior.

The surge of whale wallets

The number of Bitcoin wallets containing more than 100 BTC has reached a level not seen in 17 months. In August, over 283 wallets crossed this symbolic threshold, bringing the total to 16,120. This increase is described as a “hodling surge” by large Bitcoin holders, often referred to as “whales.” These wallets collectively accumulated over 133,000 BTC in one month, worth an estimated $7.6 billion. Adam BACK, CEO of Blockstream and inventor of Hashcash, has observed this trend and noted that whales have been buying 450 BTC per day since the price crash on August 28, a figure that corresponds to the daily production of new mined bitcoins.

This accumulation coincides with a massive sell-off by smaller investors. Spooked by the price drop, they have apparently parted ways with their holdings. The massive sell-off by small investors thus provides an opportunity for whales to strengthen their positions. This behavior by whales is often seen as a key indicator of market sentiment. Their aggressive accumulation could signal anticipation of higher prices in the future.

Do your own research, this is in no way investment advice.