TL;DR
- Wallets holding 100 BTC or more have grown by 91 units since November 11.
- Increased accumulation by large investors contrasts with retail capitulation.
- This historical divergence pattern often precedes bullish reversals in Bitcoin’s price.
In the last 20 days, a significant increase has been reported in the number of wallets controlling 100 BTC or more, suggesting that there is renewed Bitcoin whale accumulation in the digital asset market. In this regard, Santiment recently reported that, despite the market being dominated by strong downward pressure, at least 91 large wallets have emerged.
This phenomenon, where large investors expand their positions during market weakness, contrasts sharply with the behavior of small holders, particularly those with up to 0.1 BTC, whose numbers have been steadily decreasing, a pattern typically associated with retail capitulation.
The current divergent market pattern has a major impact. Periods in which retail investors sell out of fear while large holders increase their holdings have historically aligned with the formation of market bottoms or long-term lows. The continuous retreat in small wallets, which reflects the increase in fear indicators, is being exploited by larger players. Santiment emphasizes that these phases of aggressive selling by retail often lay the necessary groundwork for eventual price recoveries once selling pressure in the market dissipates.
Historical Divergence and Projections
The chart published by Santiment on its X account clearly illustrates the ongoing divergence: the curve tracking wallets of 100 BTC or more has reversed its upward trend after an earlier drop, while Bitcoin’s price continues to slide through much of November. This is a familiar sign that whales are buying the dip.
Historically, this trend of Bitcoin whale accumulation has preceded broader trend reversals. In the current situation, sustained accumulation by these large holders could help calm price movements and solidify a possible medium-term rebound, provided the trend persists.
However, most small investors continue to exit their positions, dominated by fear, leaving the way open for larger players to discreetly expand their exposure to the market’s leading cryptocurrency. Investors and the crypto community should closely monitor whether this Bitcoin whale accumulation manages to overcome retail emotion, marking the beginning of a trend change.
