Bitcoin Whales Buy $4.7 Billion BTC in A Month; Price Rises To $87,400

Bitcoin whales have purchased approximately $4.7 billion worth of Bitcoin over the past month, contributing to a significant price rise that brought Bitcoin to around $87,400 as of April 21, 2025.

This accumulation by large holders is reflected in the increase in the number of whale wallets (holding more than 1,000 BTC), which reached a four-month high of 2,107 wallets by mid-April, a level last seen during previous market rallies in late 2024.

The buying activity by whales has coincided with a decline in Bitcoin exchange reserves to a three-year low, indicating fewer coins available for sale on exchanges and suggesting a supply crunch that supports upward price pressure.

Analysts interpret the recent breakout of Bitcoin's price from a multi-month descending wedge pattern as a bullish reversal, with potential for prices to approach six figures in the near term.

Additionally, while whales accumulate aggressively, smaller holders with fewer than 10 coins have been decreasing their holdings, indicating a shift in market dynamics favoring large investors.

The sustained whale accumulation and reduced selling pressure highlight growing institutional confidence and set the stage for further price rallies.

So, the $4.7 billion buying spree by Bitcoin whales over the last month has been a key driver behind Bitcoin's rise to $87,400, supported by reduced exchange supply and technical indicators pointing to a bullish trend continuation.

Note: Not a financial advice.

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