Bitcoin’s latest on-chain data shows contrasting trends. Large holders have resumed buying after the recent market decline, while retail activity on Binance has dropped to record lows.
Crypto Patel noted that whales accumulated over 270,000 BTC at an average price of about $59,000, marking one of the strongest buying periods despite continued selling pressure.
Also Read: Bitcoin Price Nears $60,000 as Four-Year Cycle Signals Final Capitulation
Bitcoin Whales Resume Strong Accumulation After Months of Selling
From the chart data analysis between Bitcoin and the 30-day changes in the whale wallets’ balances, it is evident that there were significant sales of BTC made by whales in the latter part of 2025.
Source: X
From July to November, there was a consistent decrease in whales’ wallets’ balance, even though Bitcoin continued to be above $100,000. This selling activity by large whales had an effect on the market.
The peak buying season came in late December 2025 and early January 2026, the highest in terms of whale buying in the entire graph. The buying pace slowed down during February and March as whales continued holding their positions.
In April and May, balance was maintained. Latest numbers indicate that accumulation has started again as big players are increasing their stake with BTC prices going down to $60,000-$62,000.
Retail BTC Activity Remains Below Previous Bull Markets
While whales have become more active, retail traders appear less involved than in previous market cycles.
Expert Darkfost used Binance’s figures to show that wallets depositing less than 1 BTC are now receiving just 329 BTC on a daily basis. In 2021, the figure was 2,690 BTC per month, with daily deposits reaching nearly 4,900 BTC.
In 2018, the influx of BTC was even greater, with 3,700 BTC per month and 10,400 BTC of daily deposits. According to the chart below, retail investors’ involvement increased greatly amid previous bull runs as the price went up.
Source: X
Since then, the activity decreased sharply after the 2021 top and has not recovered despite fresh highs at over $100,000 in the current cycle.
There are some reasons behind this phenomenon. Spot Bitcoin ETF makes it easy for investors to invest in Bitcoin without having to send their cryptocurrency to exchanges. Investors are trading in alternative cryptocurrencies or keeping their Bitcoin investments for longer periods.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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