Large-scale Bitcoin hoarders intensify buying spree, amassing a staggering $4 billion worth of cryptocurrency in a two-week period.
Bitcoin's Bounce Back: The returning interest of whales and the conflict among miners
After the chaotic crypto market fluctuations during the past few months caused by President Donald Trump's questionable foreign policies, such as the alarming trade war, bitcoin has managed to resurface as a favored investment option by investors once again.
This trend is particularly apparent among BTC whales - significant investors who hold a substantial quantity of the asset. These market giants have shown a renewed interest in buying Bitcoin recently, following a lull earlier this year. Remember, during that period, they offloaded approximately 6,800 BTC within just a week due to escalating geopolitical tension.
However, their current behavior is far from the past as they seem to be buying like never before. According to analyst Ali Martinez, they bought over 43,100 BTC in the last two weeks alone, equating to almost $4 billion at today's prices.
Part of this massive purchase could be linked to Strategy's continuous accumulation, along with other companies like Metaplanet and Semler Scientific, who continue to accumulate BTC.
Simultaneously, inflows towards the Spot Bitcoin ETFs have skyrocketed since April 17, with an astonishing $3.9 billion entering the funds.
On the other hand, miners - the backbone of the world’s most secure blockchain - have been selling in large amounts. Data shared by the same popular analyst shows a decline of nearly $850 million in miners' holdings over the past few weeks as bitcoin's price started to rebound and climbed from its April 7 low of under $75,000 to almost $95,000.
BTC Whales: To Hold or to Sell?
However, the resurgence of whale buying activity doesn't tell the complete story. Despite their aggressive accumulation, whale long positions weakened as Bitcoin approached $95K, with Alphractal's sentiment metric dropping to 0.8 (from 1.2) as whales opened short positions.
On-Chain Indicators
Glassnode’s Accumulation Trend Score indicates aggressive buying trends. Wallets holding over 10,000 BTC scored 0.9, smaller wallets (1,000–10,000 BTC) reached 0.7, while retail-sized addresses scored 0.5.
Market Implications
Short-term caution might be warranted near $95K, as whale short positions and miner sales hint at potential volatility. However, sustained whale buying (Q1 2025 growth in 100–1,000 BTC wallets) and spot ETF inflows underpin bullish momentum.
| Indicator | Whales | Miners ||---------------------|----------------------------------|--------------------|| BTC Activity | 43,100 BTC bought[3][5] | 943 BTC sold[2] || Market Impact | Long-term accumulation[1][4] | Short-term supply[2]|| Recent Sentiment| Mixed (shorts rising near $95K[2])| Profit-taking[2] |
The data suggests that whales remain net accumulators, albeit hedging their positions with shorts, while miners are actively realizing gains, marking two divergent strategies.
- The whales, significant investors in Bitcoin, have shown renewed interest in buying Bitcoin recently, purchasing over 43,100 BTC in the last two weeks, equating to almost $4 billion at today's prices.
- While Bitcoin's price started to rebound, miners, the backbone of the blockchain, have been selling in large amounts, resulting in a decline of nearly $850 million in miners' holdings over the past few weeks.
- Investors are questioning the strategy of the whales, as they have been buying aggressively, yet their long positions have weakened as Bitcoin approached $95K, with whales opening short positions.
- On-chain indicators show aggressive buying trends among whales, with wallets holding over 10,000 BTC scoring 0.9, smaller wallets (1,000–10,000 BTC) reaching 0.7, and retail-sized addresses scoring 0.5.
- In contrast, spot Bitcoin ETF inflows have skyrocketed since April 17, with an astonishing $3.9 billion entering the funds.
- The resurgence of whale buying activity and spot ETF inflows underpin bullish momentum, but short-term caution might be warranted near $95K due to whale short positions and miner sales.
- The crypto market, with itsvelocity influenced by technology and finance, continues to offer opportunities for investing and trading, as evident in the recent inflows and outflows of cryptocurrencies like Bitcoin and Ethereum.
