Bitcoin whale addresses — wallets holding at least 1,000 BTC — have lifted their collective holdings to 7.17 million BTC, the highest level since March 14, according to blockchain analytics firm Santiment. The number of such addresses now stands at 2,044, and together they control nearly 36% of Bitcoin's circulating supply. This concentration underscores the growing sway of mega-holders over the market's long-term trajectory.
Whales Accumulate During Bitcoin's Dip, Retail Sells
Bitcoin recently slid toward the $60,000 level as broader sentiment weakened. Yet Santiment's on-chain data reveals that large investors responded by increasing their holdings rather than hedging. Meanwhile, many retail traders trimmed positions. The recovery in whale balances effectively erased a multi-month drawdown that saw large holders distribute coins to smaller players. Instead of continuing that pattern, major wallets resumed accumulation during the latest price weakness, creating a clear divergence between small traders and big players.
2,044 Addresses Control Over One-Third of Supply
These 2,044 addresses now hold roughly 7.17 million BTC. At near-$60,000 prices, that stash is worth more than $430 billion. Market participants watch whale activity closely because these holders typically manage substantial capital and adopt longer investment horizons. Santiment notes that the accumulation happened at a time when retail sentiment remained cautious, highlighting a gap in judgment between experienced investors and the general trading crowd.
Historical Patterns: Corrections Are Whale Accumulation Windows
Historical market cycles show that whale investors often build positions during corrections and periods of uncertainty, making their moves a beacon for traders searching for directional cues. Rising whale ownership also tightens available exchange supply: if large holders keep hoarding, fewer coins may remain readily tradeable, potentially squeezing liquidity over time. Although short-term conditions remain unclear, on-chain data suggests Bitcoin's biggest holders are strengthening their positions, not stepping aside. Santiment confirms that whale balances have returned to mid-March levels, reflecting confidence in Bitcoin's longer-term outlook and reinforcing the influence of these major investors on market structure.