Bitcoin Whales Holding 10K+ BTC Increase Their Stash
Data from leading analytics firm Glassdoor reveals a steady rise in the number of Bitcoin (BTC) "whale" wallets holding at least 10,000 BTC.
The accelerating accumulation trend among major holders signals growing confidence in the flagship cryptocurrency, despite the broader market downturn and ongoing uncertainty in 2025.
This movement suggests institutional players and high-net-worth investors may be positioning for a future BTC rally, anticipating favorable macroeconomic shifts and other potential catalysts.
Supply Crunch Ahead?
Analytics platform Santiment reports BTC whales and sharks (large holders) have undergone multiple behavioral shifts over the past six months - first aggressively accumulating Bitcoin, then pausing purchases, before finally dumping holdings. The most recent sell-off occurred between mid-February and March.
However, as March began, wallets holding 10+ BTC resumed buying, already adding 5,000 BTC ($408 million at current prices) to their balances. So far, BTC's price hasn't reacted to this accumulation.
Santiment analysts suggest the situation could change in late March, potentially playing out "much better than the bloodbath we've seen since Bitcoin's ATH 7 weeks ago" - but only if whales continue buying.
Institutions Keep Stacking BTC
Bloomberg Intelligence's Senior Commodity Strategist Mike McGlone has repeatedly warned of an impending major Bitcoin decline this year.
In a Friday tweet, McGlone noted that tightening U.S. monetary policy is crushing equities, with Bitcoin moving in lockstep. Gold remains the only beneficiary as the traditional safe-haven asset.
The analyst drew parallels between BTC and the Nasdaq 100's 2000s peak - when the index hit 5,000 during the dot-com bubble before crashing 80%. McGlone believes BTC could follow a similar pattern after reaching $100K, though it's unclear whether the drop has already begun or will occur later this year.
Earlier, McGlone predicted Bitcoin could plunge to $70K in 2025.