After months of relentless selling pressure, the winds may finally be shifting on the Bitcoin market. Fresh data from Glassnode reveals that so-called “whales”—large-scale investors with at least 10,000 BTC in their wallets—are now accumulating Bitcoin on a large scale for the first time in eight months.
Buying Spree Around $80,000
Despite the overall market remaining under pressure and Bitcoin trading more than 25% below its all-time high of $109,000, whales are increasing their activity around the $80,000 level. According to Glassnode, this is the first significant accumulation since August 2024, when BTC hovered between $50,000 and $60,000.
These large holders are often seen as the “smart money” in crypto. They typically buy during sharp corrections and sell when the market is frothy. That means their current activity is a strategic vote of long-term confidence in Bitcoin’s future.
Retail Investors Still Cautious
Meanwhile, smaller investors are playing it safe. The Accumulation Trend Score from Glassnode—an indicator measuring investor behavior over 15 days—is currently at just 0.15. A score close to 0 indicates selling pressure, while a value near 1 signals accumulation.
In other words, most retail investors are still reducing their positions. Despite growing whale activity, there’s no clear sign of broad market confidence just yet.
What Does This Mean for Bitcoin’s Price?
While renewed interest from whales could be a positive sign for medium- to long-term growth, Bitcoin’s price may still face short-term pressure. As long as retail investors continue to sell, there’s a risk that BTC may fall further before staging a meaningful recovery.
Still, whale behavior shows that not everyone is bearish. In fact, this group sees the current price dip as a strategic entry point—and historically, such whale movements have often signaled the early stages of a market turnaround.
