Розничные инвесторы опережают китов в накоплении биткоина, сигнализируя о переменах на рынке Translation: Retail Investors Outpace Whales in Bitcoin Accumulation, Signaling Market Changes

By the end of 2025, the cryptocurrency market presented a contradictory picture. Analysts from Santiment examined the landscape by comparing the activities of major players with those of retail investors.

Since July 1, wallets holding less than 0.1 BTC increased their holdings by 3.31%. In contrast, addresses containing between 10 and 10,000 BTC saw their positions grow by only 0.36%.

Experts described this trend as concerning. Historically, a shift towards a bullish trend occurs when whales accumulate assets by purchasing them from disillusioned small holders.

In the latter half of 2025, the situation flipped: retail investors were buying actively, while larger players appeared passive or took profits at the peaks seen in October.

Simultaneously, there has been a noticeable decline in interest in the asset. According to analyst Oro Crypto, Bitcoin’s «social volume» is decreasing: even sharp price fluctuations no longer spark intense discussions, and the proportion of mentions for the coin has fallen to single-digit levels.

Typically, market peaks are accompanied by euphoria and widespread retail interest. The current environment suggests emotional burnout and apathy. An expert interprets this as a sign of consolidation or renewed accumulation rather than the end of a cycle.

The drop in interest is further evidenced by declining trading volumes. Santiment recorded the lowest activity in the last two weeks of the year.

Unlike late 2024, when altcoins like Solana and Dogecoin were on the rise, trading volumes have halved.

Data from the platform Alphractal shows that the ratio of long to short positions is increasing.

Despite aggressive bets from traders on the rise of the leading cryptocurrency, the asset price has not reacted to the increasing number of long positions. This divergence poses a risk of the market moving against the prevailing consensus.

Long-term investors are signaling positively: researcher Matthew Signal from VanEck noted that holders have begun net accumulation for the first time since 2019, which alleviates the selling pressure that was previously observed.

As a reminder, a trader known as Bull Theory likened Bitcoin’s sideways movement to «the calm before the storm.»