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While the crypto market remains shaken by speculative tremors, a subtle signal captures the insiders’ attention: bitcoin whales are increasing their positions. The number of addresses holding between 1,000 and 10,000 BTC has just reached 2,014, a peak since April 2024. This dynamic, far from insignificant, reflects a thoughtful accumulation strategy. Behind this silent movement, some already see the beginnings of a possible bullish turnaround.
A record accumulation : the numbers that speak
The comeback of major holders is reflected by a 3.5 % increase in the number of “whales” between March 5 and today, rising from 1,944 to 2,014, according to Glassnode data.
This threshold had not been reached for almost a year. Meanwhile, the platform notes that “volumes on the markets have jumped 37 % in the last 24 hours“, an indicator that corroborates this intensification of movements. Such accumulation occurs while bitcoin hovers around 84,000 dollars, which has not discouraged the largest holders from strengthening their positions.
This phenomenon is often interpreted as a bullish sign, as whales act as scouts in market cycles. Their current behavior contrasts with that of retail investors, who are more sensitive to short-term variations. Moreover, whales buy during dips when fear dominates the market. Several elements support this strategic interpretation:
- A sustained increase in the number of addresses holding between 1,000 and 10,000 BTC, an unprecedented level since April 2024 ;
- An explosion of daily volumes on exchanges, up 37 % over 24 hours ;
- A clear behavioral gap between institutional and retail investors. The former strengthen their positions despite a still undecided market.
Large-scale movements : massive withdrawals from exchanges
Beyond the simple increase in addresses, withdrawals observed on certain platforms reinforce this market reading. 1,000 BTC, equivalent to 84 million dollars, were withdrawn from Binance in a single transaction. This transfer, occurring amid a volume spike, is not an isolated case. A whale withdrew 3,704 BTC worth 315 million dollars from the Kraken platform without the BTC being sent to another exchange, suggesting an intention to hold rather than immediate resale.
Indeed, these exchange outflows mechanically reduce the available supply on the market, a situation that can create upward pressure if demand remains strong. They may also reflect a strategic repositioning toward long-term holding solutions.
At the same time, the role of institutional players such as Strategy (formerly MicroStrategy), whose appetite for BTC remains unchanged, fuels an accumulation dynamic on several fronts.
This series of indicators reveals growing tension between an increasingly restricted supply and buying prospects that could strengthen, especially if market sentiment improves in the coming weeks.
The discreet but massive resumption of accumulation by bitcoin whales occurs in a market context still searching for a clear direction. As volumes intensify and available supply tightens, the strategy of these historic actors could outline the beginnings of a new bullish cycle. However, this interpretation must be confronted with the evolution of macroeconomic conditions, ongoing regulatory structuring, and the attitude of retail investors. While the trajectory of large addresses is often a leading indicator, it alone does not guarantee a market surge.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
