Bitcoin Whales Are Back—Could This Be the Catalyst for the Next Rally?
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Bitcoin (BTC) continues to trade at psychological level below $90,000, with a price of $82,346. This marks a 24.3% drop in the all-time high above $109,000 recorded in January.
Despite this downward trend, new on-chain data suggests that the surge in high-net-worth investors or “new whales” has been actively accumulating BTC, which could have a significant impact on the market’s trajectory.
According to CryptoQuant analysts, a group of unique Bitcoin holders with at least 1,000 BTC (obtained in the last six months) accumulation.
This trend began in November 2024 and has accelerated significantly in recent weeks, with the whales accumulating over 1 million BTC in total and adding more than 200,000 BTC this month alone.
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New whales drive market accumulation
Onchained’s analysis highlights that this unprecedented accumulation trend shows great confidence in the long-term prospects of Bitcoin. The rapid expansion of new whale holdings indicates that institutional investors or high net worth individuals are Increase their contact to Bitcoin.
The data further suggests that most of these newly acquired holdings are in the short term (less than six months), strengthening the idea that investors see value Current price level Despite the market volatility, it is still willing to hold it.
If this accumulation trend continues, it can become a powerful support mechanism for Bitcoin prices in the coming months. onChained also speculates that Bitcoin can Re-examine its highest And it is possible to surpass it, mentioning the possible price target is $150,000 or even $160,000.
However, market conditions, liquidity and investor sentiment will play a key role in determining the sustainability of this trend.
New Bitcoin whales surge
“Since November 2024, these wallets have acquired more than 1 million BTC together…Their accumulation speed has accelerated particularly in recent weeks, accumulating more than 200,000 BTC this month.” – By @0nchained pic.twitter.com/jvsfpjy8wa
– cryptoquant.com (@cryptoquant_com) March 18, 2025
Is Bitcoin demand weakened?
Although whales’ accumulation demonstrates a strong long-term conviction, another crypto analyst, Bilalhuseynov, noted Potential problems About the demand momentum of Bitcoin.
his analyze It shows that Bitcoin’s demand peaked in March and December 2024, marking the first time that it has approached two consecutive peaks of demand. However, after the March peak, a sharp decline in demand has been observed.
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Bilalhuseynov compared the current trend to previous market cycles, especially during the 2017-2018 period, when the peak momentum was followed by price fluctuations and a gradual decline in demand.
Although factors such as market size, trading volume and liquidity have changed a lot since then, the current trends indicate the trend of Bitcoin Demand may be softeningwhich may affect price movements in the short term.
Feature images created with DALL-E, charts for TradingView
