Bitcoin’s price may have been in a slump through parts of March and April, but behind the scenes, big players were quietly making moves. According to blockchain analytics firm Glassnode, the number of wallets holding over 1,000 BTC surged significantly, marking a strong signal of whale accumulation.
From just 2,037 wallets in late February, the number jumped to 2,107 by April 15—a level not seen since the crypto bull spikes in November and December 2023. That’s more than 60 new whale wallets added in just a few weeks.
🐋 Why Are Whales Accumulating?
This trend mirrors whale activity seen in early bull cycles and is often viewed as a bullish signal. When institutional or large investors accumulate in silence, it reflects long-term confidence.
Glassnode data further reveals that whales holding over 10,000 BTC are also in aggressive accumulation mode—buying at a rate more than 300% of the yearly BTC issuance.
“Whales are accumulating massive amounts of Bitcoin. They know what comes next,”
– says crypto analyst Mister Crypto.
📊 Smaller Investors Pulling Back
While whales have ramped up, holders with less than 10 BTC have declined. This could indicate fear or short-term uncertainty among retail investors, while smart money buys the dip.
🔥 BTC Price Signals a Breakout
Bitcoin has rebounded sharply, crossing $87,400 on April 21, breaking out of a multi-month falling wedge pattern. Analysts suggest this breakout could push BTC towards the much-anticipated $100,000 milestone by May 2024, especially if macroeconomic conditions such as a U.S. Fed rate cut unfold favorably.
🔍 What This Means for You
If history is any guide, massive whale accumulation has often preceded explosive BTC rallies. With supply shrinking and institutional interest growing, 2024 could mark the beginning of a supercharged bull run.
Now might be the time to study the charts, manage your risk, and position accordingly.
