On-chain data shows large Bitcoin investors, often called whales and sharks, have been aggressively accumulating. Wallets holding between 10 and 10,000 BTC added 86,702 BTC over the past three weeks, pushing their combined holdings to the highest level since April 23. This accumulation came as Bitcoin approached the $90,000 level, a threshold that has become a key psychological focus for traders.
According to analysts, historical patterns suggest a close correlation between movements of these large wallets and Bitcoin price action. Meanwhile, wallets with less than 0.01 BTC have begun taking profits, creating a market structure where retail investors sell into strength while larger holders absorb supply. The source described the simultaneous large-investor buying and small-investor selling as a positive signal, noting that similar patterns in the past have often preceded continued price increases.
Separately, dormant whale activity added to market attention after wallet bc1q4h moved 4,500 BTC, worth roughly $375.72 million, for the first time in more than four years. On-chain commentator Lookonchain highlighted the transfer, which reignited trader interest in potential follow-on movements from other dormant wallets. While Bitcoin’s price remained relatively stable, the combination of multi-week accumulation and the awakening of a long-dormant whale has increased anticipation that a move above $90,000 may be approaching, though on-chain activity does not guarantee future performance.
