Bitcoin whale activity returns

Bitcoin whales continue to increase their Bitcoin holdings, with the number of wallets holding 1,000 to 10,000 Bitcoins rising to 1,993, the highest level since December 2024.

This comes as prices fluctuate between $81,000 and $84,000, reflecting growing investor confidence despite the volatility.

According to Santiment, the number of whales has increased by 2.6% over the past five weeks, indicating that institutional investors are consolidating their positions.

However, Bitcoin has experienced a period of extreme volatility this year, peaking at $109,225 in January before falling 25% during the first quarter, its worst quarterly performance since 2019.

At the time of writing, Bitcoin is trading at $84,770, up 1.9% in 24 hours.

In contrast, short-term investors are under increasing pressure, as the SOPR index has remained below 1.0 for more than two months, reflecting a wave of surrender that could lead to a short-term decline.

Despite the volatility, recent whale movements and institutional trends point to the possibility of a new bullish wave in the coming months.