Key Takeaways:
- Bitcoin whales and sharks added over 83K BTC in 30 days, signaling renewed confidence.
- Small wallets offloaded BTC, likely cashing out on recent gains amid market uncertainty.
- Bitcoin’s October peak remains in sight, though sharp volatility is expected before that.
Bitcoin’s heavyweight holders, often called whales and sharks, have quietly resumed accumulation. According to blockchain intelligence platform Santiment, addresses holding between 10 and 10,000 BTC acquired a staggering 83,105 BTC in just 30 days.
This tier of investors now shows increased confidence in Bitcoin’s trajectory, coinciding with calming geopolitical tensions such as the U.S.–China tariff pause.
This recent wave of buying is significant when compared to the total BTC holdings of these wallets, suggesting strategic positioning for a breakout move.
The trend also reflects a typical behavior seen ahead of strong rallies, where larger entities accumulate during sideways or uncertain phases. Many are interpreting this shift as a precursor to Bitcoin’s challenge of the elusive $110,000 price mark, a level yet to be reached but not out of sight.
Retail Wallets Trim BTC Amid Market Uncertainty
As big wallets loaded up, the smallest wallets took the other road. Addresses with under 0.1 BTC in them sold their 387 BTC over the same time.
Although the quantity is small, this is significant considering the relative magnitude of their holdings. This is a retail uncertainly signal, presumably triggered by Bitcoin failing to convincingly move above previous resistance levels in recent weeks.
Wallets just above the 0.1 BTC level also demonstrated a trend of profit-taking due to the perception that small holders have that the market would turn around at some point. To these investors, the recent stable price may seem more like a plateau than a starting point,particularly in a month that has been associated with surprise changes.
Bitcoin Cycle Intact as October Peak Looms
Joao Wedson, the founder of Alphractal, is firm in her Bitcoin opinion. Of late, Wedson reaffirmed how she believes the Bitcoin cycle remains intact with high potential to peak in the October 12–16 time frame.
She refuted the possibility that institutional presence or ETF activity has broken the underlying rhythm of Bitcoin, citing that institutional players have been participating for more than a decade, but not always transparently.
Wedson emphasized recurring patterns observed in earlier cycles, including similarities between April 2021 and April 2023, and cautioned that May once more might bring about chaos, much like the shock from the 2021 crackdown in China.
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