Bitcoin Whales Accumulate 231 Wallets Amid Retail Sell-Off

Bitcoin whales, defined as wallets holding at least 10 BTC, have increased by 231 in the past ten days, indicating that large holders are leveraging the current market dip to accumulate more Bitcoin. This trend is evident as the number of wallets holding 10 or more Bitcoin rose by 231, a 0.15% increase, while wallets with balances between 0.001 and 10 Bitcoin fell by 37,465, reflecting the same percentage change in the opposite direction. This pattern suggests that while small investors are backing out, big holders are buying in.

The market sentiment has been mixed, with the Fear and Greed Index dropping from 70 to 54, signaling market uncertainty. Despite this, Bitcoin’s price has remained firm above the key $100,000 mark. However, on-chain activity has not kept pace, indicating a potential shift in how and by whom Bitcoin is being used. Monetary transactions have held steady, showing stable value transfers over the past year, but non-monetary actions surged in late 2024 and dropped sharply in early 2025. The average daily settlement remains high at $7.5 billion, despite a drop in total transactions. Large transfers now make up 89% of volume, showing whales dominate on-chain activity.

This whale activity contributes to a notable shift, as retail wallets decreased by 37,465, suggesting waning retail confidence. Market volatility remains a possibility due to the divergence in wallet movements. If whales persist in buying during a bearish trend, the potential for a market rebound increases. Analysts note that whale accumulation in past cycles has often led to market upticks.

Recent on-chain data shows rising exchange whale ratios, indicating substantial whale-driven exchange inflows. This metric is crucial in assessing whether the current market patterns could lead to future price increases. Historical data suggests that coordinated whale accumulation could catalyze market rallies. These patterns emphasize the influence of large holders on cryptocurrency markets during downturns.

The split in behavior between retail and institutional players is becoming more obvious. While the network becomes quieter, large investors are treating the current market as a buying opportunity. They seem to be stepping in while prices are stable and sentiment remains uncertain. If past patterns hold true, this quiet period—with whales accumulating and retail traders stepping away—could be setting the stage for the next move up.

This shift in behavior shows a growing gap between everyday traders and large investors. While smaller holders are selling and taking profits, institutional players are treating the current market as a buying opportunity. They seem to be stepping in while prices are stable and sentiment remains uncertain. If past patterns hold true, this quiet period—with whales accumulating and retail traders stepping away—could be setting the stage for the next move up.