Bitcoin Whales Accumulate, $100K+ Rally Expected

Bitcoin Whales Accumulate as BTC Price Dips, $100K+ Rally Expected

Bitcoin whales, entities holding 1,000 or more BTC, have been actively accumulating the cryptocurrency during recent price dips. On-chain data from February reveals the emergence of 135 new whale wallets holding 100+ BTC, indicating strong interest from large investors.

Glassnode's Cost Basis Distribution (CBD) data shows significant accumulation above the BTC price of $97,500, establishing a strong support level. A successful breakout above $101,000 could trigger a stronger bull rally to new all-time highs.

Bitcoin's recent price volatility has provided an opportunity for whales to stack up their supplies. Blockchain analytics platform Santiment reported that a total of 135 new wallets holding over 100 BTC emerged in February. Meanwhile, small retail investors, particularly those who entered the market in the past six months, sold off during the recent correction. Wallets holding less than 100 BTC dropped by 138,680 during the same period, indicating a shift in Bitcoin supply from weak hands to strong hands.

According to Santiment data, this divergence between whale accumulation and retail liquidation typically precedes market cap growth, though gains may take weeks or months to materialize. While some believe this to be the end of the Bitcoin bull run, the whale accumulation shows otherwise.

Glassnode's analysis further notes that this strong accumulation stabilizes the BTC price above $97,500, well above the short-term holder cost basis (~$92K). Below $97,500, unrealized losses rise sharply, increasing downside risk as sentiment weakens.

Popular crypto analyst Rekt Capital noted that Bitcoin is testing its diagonal trendline support level as prices consolidate between $98,000 and $101,000. Early signs of a potential higher low formation are emerging, and price stability at current levels could pave the way for Bitcoin to retest the $101,000 resistance.

Spot Bitcoin ETF inflows have also resumed despite strong market volatility, showing strength among Bitcoin whale entities. After a strong success in America last year