New Bitcoin Whales Reshaping the Market

New Bitcoin whales are driving demand while limiting available supply, potentially fueling price increases.

High-net-worth wallets with 1,000+ Bitcoin (BTC) are accumulating rapidly, indicating strong confidence in Bitcoin. Since November 2024, these new whales have added over 1 million BTC, including 200,000 this month.

A short holding period (less than 6 months) shows strong belief in current price levels. This persistent buying pressure suggests that recent “dips” are being absorbed, decreasing the chance of extended corrections.

With a risk-off sentiment prevailing in the market, retail capital has not returned yet. In this environment, the ongoing accumulation by new whales could create a solid price floor, reinforcing Bitcoin’s support during this cycle.

Bitcoin’s Liquidity Profile is Shifting

The swift accumulation of new whale addresses shows robust inflows of new capital, as seen in the data below.

Total holdings by these entities (1,000+ BTC, less than 6 months old) have jumped from 345k BTC to over 1.5 million BTC. At the current market price of $83,580, this equates to roughly $125 billion in Bitcoin.

In contrast, long-term whale holdings (BTC held for several years) have fallen from 3.48 million to 3.45 million BTC, coinciding with Bitcoin’s price drop from its all-time high of $109k on January 20 to $96k on February 6.

Sell-side liquidity from both old whales and weaker hands has been absorbed by these new whales, whose 200,000 accumulation this month has kept BTC from falling below $78k.

New Bitcoin Whales Signal Strength: What’s Next?

Bitcoin’s recent price fluctuations—from its ATH of $109k to dips below $80k—have been primarily affected by distributions from old whales and macro-driven liquidity changes.

However, the influx of new whales is reinforcing support and lessening downside risks. If accumulation continues at this rate, the probability of BTC retesting its all-time high rises.

Furthermore, macroeconomic factors like potential rate cuts following Trump’s economic reset could enhance Bitcoin’s long-term outlook, establishing $150k–$160k as a plausible long-term target.