A Whale Went Long With Around $11 Million in BTC and Bought About 180,000 HYPE Coins

Bitcoin supply concentration among major institutional investors has accelerated in early 2026. BlackRock’s iShares Bitcoin Trust and Strategy Inc combined hold approximately 1.45 million BTC, reflecting a growing dominance of regulated ETFs and public companies in the market according to reports. These positions account for a significant portion of the circulating supply and may influence liquidity and price dynamics.

Whale and shark holders—wallets controlling 10–10,000 BTC—have been accumulating Bitcoin since mid-December. Santiment data shows these large holders added 56,227 BTC in the same period, while smaller retail wallets have been taking profits. This behavior typically signals a higher probability of market cap expansion and continued institutional confidence.

Bitcoin price has remained within a range of roughly $87,000 to $94,000 for six weeks. However, it recently hit a seven-week high of $94,800 on Coinbase. Analysts say that this consolidation phase is bullish as long as whales continue to accumulate.

Why Did This Happen?

Bitcoin’s institutional adoption has been reinforced by renewed ETF inflows. BlackRock's IBIT reported its largest single-day inflow of $287.4 million on Jan. 5. This followed a period of outflows in late 2025 and marks a shift in risk appetite.

Strategy Inc also increased its BTC holdings by acquiring 1,287 BTC, bringing its total to 673,783 BTC. The firm used at-the-market stock sales to fund these purchases. These moves indicate that institutional players are leveraging capital inflows to expand their Bitcoin exposure.

How Did Markets React?

Bitcoin’s early 2026 rally has driven a synchronized rise across related markets. Bitcoin-linked equities, such as MicroStrategy and Riot Platforms, saw double-digit gains during the week of Jan. 2. Spot Bitcoin ETFs also attracted $697 million in net inflows during the first week of 2026.

At the same time, Bitcoin’s market cap has grown due to whale accumulation and retail profit-taking. Santiment reports that whale accumulation has occurred amid reduced retail selling pressure, a pattern that often precedes market cap growth.

What Are Analysts Watching Next?

Market participants are closely monitoring the behavior of large institutional investors. BlackRock and Strategy’s combined BTC holdings represent a meaningful share of the supply, and their next moves could influence liquidity and volatility.

Analysts are also tracking token unlocks and new supply pressure. For instance, the Trump memecoin is set to release 50 million tokens worth $270 million in mid-January. While this is smaller than some other unlocks, it still adds to the month’s overall supply increase.

Institutional concentration is another key area of focus. As ETFs and public companies continue to accumulate Bitcoin, the market is becoming more dominated by regulated entities. This trend may strengthen Bitcoin’s institutional legitimacy and amplify its role as a macro hedge asset.

ETF inflows and whale activity are expected to remain key indicators of Bitcoin’s trajectory. If institutional demand continues to rise, it could drive further consolidation and push BTC toward the $100,000 level. On the other hand, a reversal in buying pressure might trigger another consolidation phase.

Hyperion DeFi and other firms are also expanding their exposure to HYPE tokens. The company recently added 150,000 HYPE to its treasury holdings and staked 28,888 HYPE tokens with Kinetiq. These moves signal growing confidence in the token’s utility and market potential.

Bitcoin’s price action and institutional behavior will likely remain the primary focus for investors in early 2026. A sustained increase in ETF flows and whale accumulation could reinforce the bullish trend, while any signs of profit-taking or reduced inflows might lead to a period of uncertainty.