On-chain data from market intelligence firm Santiment reveals a notable rise in the number of large Bitcoin holders — specifically wallets holding 10 BTC or more — reaching levels last seen in March. This sharp increase in so-called whale and shark wallets signals growing confidence among seasoned investors, even as Bitcoin’s price consolidates below key resistance.
Whale Accumulation Gains Momentum
Santiment data shows that the number of wallets holding over 10 BTC has climbed to 152,280, suggesting a quiet yet powerful accumulation trend. This group, often referred to as “smart money,” tends to buy during market uncertainty — a pattern consistent with the current uptick.
This surge in large Bitcoin investors comes amid heightened institutional activity, including robust inflows into U.S. spot Bitcoin ETFs. According to reports, spot BTC ETFs brought in nearly $1.5 billion in three days, with BlackRock’s IBIT leading the charge, acquiring over 9,400 BTC in a single week.
Retail Hesitates, Whales Accumulate
As retail investors remain cautious, whales are making bold moves. Earlier this month, nearly 4,500 BTC were withdrawn from Binance in one day. At the same time, stablecoin inflows topped $800 million, indicating that large players may be preparing for a major price move.
Analyst Axel Adler Jr. also noted that even after $66 billion in realized profits (mostly from short-term holders), Bitcoin has remained surprisingly stable. The resilience appears to be driven by steady new demand — likely from institutions and large-scale investors.
Bitcoin Price Still Range-Bound
Despite the whale activity, Bitcoin remains below the $108,000–$110,000 resistance zone. At the time of writing, BTC was trading at $107,353, slightly down over the past 24 hours and 2.6% lower on the week. Though it gained 3.1% over the last two weeks, it still trails the broader crypto market.
Technical analyst Daan Crypto Trades suggests that BTC is consolidating in a wedge formation and could break higher — possibly toward a new all-time high — if it clears this range.
Bitcoin Dominance Grows
Bitcoin dominance has also been climbing, currently at 62.8%, and recently peaking at 65.7%, the highest level in four years. This trend underscores a shift in capital toward BTC and away from altcoins, reinforcing the idea that large investors are betting big on Bitcoin’s relative strength.
