Bitcoin News Today: Bitcoin Whale Activity Reaches All-Time High as Price Hits $120,000

Bitcoin's whale activity has surged to an unprecedented level, with the number of addresses holding more than 100 BTC reaching a new all-time high of 18,996. This milestone marks a significant moment in the ongoing evolution of the cryptocurrency market, reflecting growing confidence and accumulation among large investors [1]. The surge coincides with Bitcoin trading near $120,000, just 3% below its all-time high, suggesting that high-net-worth entities and institutions continue to build long-term positions [1].

Whale addresses—wallets containing large amounts of Bitcoin—have historically been seen as a leading indicator of market sentiment. The increase in such addresses indicates that major players are locking up supply, potentially reducing market liquidity and contributing to upward price pressure [2]. Data from Bitcoin Magazine Pro shows a steady and sustained rise in these large-holding wallets, surpassing the previous record set in February 2017 [2]. Analysts view this trend as a sign of stronger institutional adoption and a more mature market structure [3].

One of the key drivers behind this accumulation is the rising number of publicly traded companies holding Bitcoin as a primary reserve asset. Over 160 such firms now include Bitcoin in their balance sheets, up from just 43 in 2023. This shift is largely fueled by favorable regulatory developments and a growing recognition of Bitcoin's role as a strategic asset [1]. Corporate treasury departments are increasingly treating Bitcoin like traditional commodities, with some entities expanding their holdings significantly—such as Michael Saylor’s firm, which has increased its BTC reserves by 60% following recent U.S. political developments [1].

Bitcoin’s capped supply of 21 million coins—approximately 19 million of which are already mined—adds to the urgency for large holders to secure positions before potential scarcity effects become more pronounced. Analysts note that this trend may further tighten supply in the market and support long-term price resilience [1]. While no forecasts have been made regarding future price levels, the continued rise in whale activity suggests a strong conviction in Bitcoin’s value proposition [1].

The increasing concentration of Bitcoin in large wallets also raises questions about market dynamics and volatility. While smaller wallet holders continue to grow in number, the rise in over-100-BTC addresses points to a structural shift in ownership patterns [3]. This could lead to more pronounced price movements if major holders decide to rebalance their positions.

With Bitcoin trading near record levels and whale accumulation hitting new highs, the market is showing signs of continued institutional confidence. The behavior of large holders remains a key factor to monitor for insights into broader market sentiment and potential future price trajectories [1].

Source:

[1] Bitcoin Nears $123K as Whale Addresses Hit All-Time High

https://bitcoinmagazine.com/markets/bitcoin-nears-123k-as-whale-addresses-hit-all-time-high

[2] Bitcoin Whale Wallets Hit Record High as Price Momentum Builds

https://cryptodnes.bg/en/bitcoin-whale-wallets-hit-record-high-as-price-momentum-builds/

[3] Bitcoin Nears $123K as Whale Addresses Hit All-Time High

https://blockchair.com/news/bitcoin-nears-123k-as-whale-addresses-hit-all-time-high--0e2f9a821ba924bd