Whales Accumulate $11 Billion in Bitcoin Amid Market Uncertainty

Major holders have purchased over 129,000 BTC in the past two weeks, according to analysts at Glassnode.

The total expenditure for these acquisitions amounted to $11.2 billion, based on a Bitcoin price of $87,500. This marks the fastest accumulation rate since August 2024.

Glassnode highlighted that the increase in reserves reflects the confidence that large market participants have in the future of the leading cryptocurrency, despite ongoing macroeconomic uncertainties.

Since early March, Bitcoin has rebounded from values below $78,000. Market sentiment was bolstered by comments from the Federal Reserve regarding potential policy easing, along with optimism surrounding upcoming regulations, which are expected to be milder than initially anticipated.

The activity of large investors stands in contrast to smaller investors, who are continuing to decrease their holdings. Furthermore, analysts point out a rising percentage of long-term holders.

The Bitcoin 1Y+ HOLD Wave indicator, tracked by Bitbo Charts, shows a rise in the number of Bitcoins that have not been moved in over a year.

Glassnode’s analysis confirms that whales tend to hold onto their assets for the long term, regardless of the conditions in the broader market.

It’s worth noting that on February 24, experts from 10x Research stated that the actual demand for Bitcoin from institutional investors may be exaggerated.