Bitcoin Sharks and Whales Keep Accumulating: Are We on the Brink of a New All-Time High?

Recent on-chain analytics reveal that significant Bitcoin holders have continued to acquire more of the cryptocurrency as its price nears historical highs.

Increased Holdings Among Bitcoin Investors With 10 to 10,000 BTC

In a recent update, an analytics firm detailed a noteworthy trend concerning major Bitcoin investors, particularly those possessing between 10 and 10,000 BTC.

At the current market rates, this holding range translates to a minimum of $1 million and a maximum of $1 billion. Consequently, only those with considerable amounts of Bitcoin can fit into this category. An entity’s influence in the market generally increases with the size of their holdings, and investors in this bracket play a significant role in the ecosystem. These investors are commonly referred to as sharks and whales.

Displayed below is a chart that illustrates trends in the Supply Distribution for these influential investors, tracking the combined amounts held by individuals in these groups:

The chart indicates a recent increase in Supply Distribution among Bitcoin sharks and whales, suggesting these large investors have been enhancing their holdings. Specifically, those holding between 10 and 10,000 BTC have collectively added approximately 83,100 coins to their portfolios over the past month. However, this accumulation did not occur steadily, as there was a reduction in their holdings earlier in the month.

This selling activity coincided with Bitcoin’s rebound past $97,000, indicating that profit-taking may have been a motivating factor. The chart also shows that this sell-off led to a temporary decline in the cryptocurrency’s value.

With the renewed bullish momentum, both sharks and whales have resumed accumulating Bitcoin, surpassing their previous peak holdings. So far, these groups have not exhibited signs of taking profits, which can be interpreted as a positive indicator for the rally’s longevity.

The analytics firm has also included data on the Supply Distribution for investors holding less than 0.1 BTC in the same chart. Interestingly, this group has been selling while the larger investors are accumulating.

This trend may suggest that smaller investors believe a peak could be imminent. However, given the accumulation by larger investors, it is noted that the potential exists for Bitcoin to breach its long-desired $110,000 all-time high, especially following recent developments regarding tariffs between the U.S. and China.