Bitcoin whales are making waves once again. These heavyweight investors, each holding over 10,000 BTC, are snapping up more of the leading cryptocurrency as its price inches tantalizingly close to its record high of $112,000. This surge in activity suggests a bullish outlook among the big players, even as Bitcoin hovers around $109,000.
Whales on the Move
In recent days, wallets holding between 1,000 and 10,000 BTC have also joined the buying frenzy, according to data from Glassnode. The Trend Accumulation Score, a metric that gauges the buying behavior of different wallet sizes, shows a notable uptick in accumulation by these larger holders. Simultaneously, smaller investors—those with less than 1 BTC up to 100 BTC—seem to be trimming their positions. This shift indicates a possible transfer of assets from retail to institutional or high-net-worth investors.
“Whales are often considered the ‘smart money’ because they have so much at stake,” says crypto analyst Jenna Levine. “Their aggressive buying at these levels could be a strong bullish indicator. They seem to be betting on further upside.”
Historical Trends and Market Implications
The current accumulation trend isn’t happening in a vacuum. The renewed buying interest follows a local low in mid-April when Bitcoin dipped near $76,000. This historical context provides a backdrop for the whales’ current behavior, suggesting they might be positioning for future growth. “It’s not just about the price nearing its all-time high,” Levine notes. “It’s about the strategic accumulation at these critical junctures.” For further insights into what might be necessary for Bitcoin to break through its all-time high, see Bitcoin analysts say this must happen for BTC price to break $112K.
This growing demand from large investors could signal their expectation of positive developments in the crypto space. Speculation circles around potential regulatory clarifications, technological advancements, or macroeconomic factors that could provide a tailwind for Bitcoin’s price.
The Smaller Fish and the Bigger Picture
While the whales are diving deeper, smaller BTC holders appear to be swimming in the opposite direction. Over the past couple of months, retail investors have predominantly been selling or distributing their holdings. This divergence raises questions about market sentiment among different investor classes.
“There’s a clear contrast in behavior,” observes market strategist Alex Nguyen. “The smaller investors might be taking profits or reacting to market volatility, while the larger players seem to be looking beyond the immediate price action.” For an analysis of the challenges Bitcoin faces in breaking its all-time highs, refer to Why can’t Bitcoin price break $112K all-time highs? BTC analysts explain.
This dynamic is not entirely new. Historically, whales have been known to accumulate during periods of uncertainty, potentially setting the stage for substantial price movements down the line. Yet, this trend also highlights the inherent risks, as the concentration of Bitcoin in fewer hands might lead to increased volatility.
Looking Ahead
As Bitcoin’s price edges closer to its previous peak, eyes are on the horizon. Will the whales’ confidence be vindicated, or are we witnessing a short-lived rally? The market’s next moves could hinge on a myriad of factors, from regulatory shifts to technological breakthroughs.
Despite the bullish undertones, there’s a note of caution. “The market is still susceptible to sudden changes,” Nguyen warns. “While the whales’ actions are encouraging, it’s crucial to remain aware of the broader market dynamics.”
In the end, the interplay between the whales and smaller investors serves as a reminder of the complexities within the crypto market. As July 2025 unfolds, the sentiment and strategies of these key players will undoubtedly shape Bitcoin’s journey—whether it soars to new heights or faces fresh challenges.
Source
This article is based on: Bitcoin Whales Scoop Up BTC as Price Nears Record High in Sign of Growth Expectations
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
