Bitcoin News Today: Big Whales Buy $20K BTC as Market Holds Breath for Rebound Signal

Bitcoin’s latest price correction has seen a marked increase in accumulation by large holders, raising hopes among market analysts that the market may be poised for a rebound. According to on-chain data from Santiment, wallets holding between 10 and 10,000 BTC added more than 20,000 BTC in recent days, a sign that institutional or high-net-worth investors view the current price level as attractive [1]. This buying activity coincided with a roughly 6.22% drop in Bitcoin’s price from its peak above $124,000 to around $114,971 [1]. The accumulation trend is not new, as this cohort has been steadily acquiring 225,320 BTC since March 22 [1].

Market analyst Axel Adler Jr. noted a significant negative 30-day average exchange net flow, which dropped from -1.7K to -3.4K BTC per day [1]. This shift suggests that more Bitcoin is being moved out of exchanges than into them, a sign that buying pressure is outpacing selling pressure. Adler described this as a bullish divergence in a falling market, where investors are using the price pullback to accumulate [1].

Bitcoin’s current price of $114,971 reflects a slight 0.3% dip over the last 24 hours and a more pronounced 3.3% decline over the week. While it has managed to hold above the $115,000 level, it remains 7.3% below its recent high. Over the past month, the price has fallen 2.6%, yet it still retains a 96% gain year-over-year [1]. The broader crypto market has also experienced a pullback, with total market capitalization losing over $100 billion following geopolitical tensions linked to an August 18 meeting between U.S. President Donald Trump and Ukrainian leader Volodymyr Zelenskyy [1]. Despite this, Bitcoin’s market dominance remains near 58%, underscoring its relative strength compared to altcoins [1].

The accumulation by whale wallets has been accompanied by broader institutional interest in Bitcoin, with some entities significantly increasing their holdings. For instance, Japanese fashion brand ANAP added 16.98 BTC to its portfolio, while Swedish listed company Fragbite Group increased its holdings by 2.7 BTC [2]. The group of whale addresses holding between 10 and 100,000 BTC has accumulated 218,500 BTC since the end of March [2]. Additionally, Sixty Six Capital increased its holdings by 13.5 BTC, bringing its total holdings to 145 BTC [2]. These acquisitions indicate a growing appetite among institutional investors for Bitcoin, despite retail investors offloading their positions.

The market is closely watching whether this whale accumulation and the outflow of Bitcoin from exchanges can offset the selling pressure from smaller holders. If large investors continue to build their positions and the $114,000 support level holds, it could signal the beginning of a new price discovery phase [3]. Technical indicators also suggest a potential reversal, with Bitcoin approaching oversold territory and the Bollinger Bands tightening, indicating that larger price movements may be on the horizon [3].

Investors remain divided on whether the current pullback is a healthy retracement or the start of a more significant correction. ETF outflows have contributed to the bearish sentiment, with U.S. spot Bitcoin ETFs recording $121 million in daily outflows on August 18 [3]. In contrast, Ethereum has seen a surge in inflows, with over $2.83 billion added in the past month [3]. This shift in investor preferences is partly driven by growing expectations around potential staking approval for Ethereum ETFs.

Source:

[1] Bitcoin Whales Add 20K BTC Post-Dip: Historical Data Hints At Upward Price Momentum (https://cryptopotato.com/bitcoin-whales-add-20k-btc-post-dip-historical-data-hints-at-upward-price-momentum/)

[2] Bitcoin whales have accumulated an additional 20061 BTC (https://www.chaincatcher.com/en/article/2198500)

[3] Bitcoin steady at $115K as whales buy despite ETF outflows (https://crypto.news/bitcoin-etfs-outflows-btc-whale-buys-reversal-2025/)