Large investors – often called “whales” – holding 10,000 BTC or more are currently the only group buying into Bitcoin amid the price plunge.
Meanwhile, all other investor groups are selling, according to on-chain data.
This divergence is reflected in the Accumulation Trend Score index from Glassnode for each wallet group. This index measures the relative behavior of investor groups based on their balance size and the amount of Bitcoin they have accumulated over the past 15 days. A score closer to 1 indicates a buying trend, while a score nearer to 0 reflects a selling trend.
*Bitcoin Accumulation Trend (Glassnode)*Data from Glassnode shows that the largest whale group is in a “light accumulation” phase and has maintained a neutral to slightly positive balance trend since Bitcoin dropped below $80,000 at the end of November. During this period, prices mostly moved sideways, fluctuating between $80,000 and $97,000 until the end of January.
Currently, Bitcoin is trading around $78,000, according to market data.
In contrast, all smaller investor groups are net sellers, especially retail investors holding less than 10 BTC. This group has been continuously selling for over a month, reflecting risk-averse sentiment and concerns that the downtrend will continue.
At the same time, the number of entities holding at least 1,000 BTC has increased from 1,207 in October to 1,303 today.
*Number of entities with 1k BTC balance (Glassnode)*Since Bitcoin’s all-time high in October, the increase in this group indicates that large investors have taken advantage of the correction to buy in. The number of whales holding 1,000 BTC or more has now returned to the peak recorded in December 2024, reinforcing the view that big players are absorbing supply while retail investors continue to exit the market.
Thach Sanh
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
A certain Korean CEX is pushing for the reelection of its current CEO, who was previously penalized by regulators due to operational errors
South Korea's second-largest cryptocurrency exchange platform remains committed to supporting CEO Lee Jae-won's reelection, despite the platform facing controversy over a Bitcoin misdisbursement incident and regulatory penalties. Despite major flaws being exposed, the exchange has chosen to maintain operational stability rather than pursue management restructuring.
GateNews1h ago
Strategy Bitcoin holdings have a floating loss of 8.8%, approximately $5.08 billion
On March 22nd, Bitcoin's price declined 2.36% to $69,023, with Strategy's Bitcoin position experiencing an unrealized loss of 8.8%, approximately $5.08 billion. Previously, the price had briefly surpassed $76,000, during which the position was temporarily profitable. As of March 15th, Strategy held 761,068 BTC with a total cost basis of approximately $57.61 billion.
GateNews2h ago
Fractal model predicts Bitcoin will hit bottom in October 2026
Bitcoin shows positive recovery signals, improving market sentiment after a long phase of volatility. However, experts believe the current uptrend is short-term, with deeper correction risks ahead. According to Crypto Rover's fractal model, Bitcoin's price follows a four-year cycle influenced by halving events. The current cycle likely peaked in late 2025, with further declines expected before a potential bottom around 2026. Short-term price fluctuations can mislead investors, emphasizing the importance of understanding these cycles for long-term trends.
TapChiBitcoin2h ago
Bitcoin Mining Cost Rises to $88,000, Miners Lose Approximately $19,000 Per Coin
Rising energy prices and tensions in the Middle East have increased Bitcoin mining costs, with current production costs around $88,000 per BTC. Miners are losing nearly $19,000 per coin, representing an overall loss of 21%. Network mining difficulty has decreased by 7.8%, hashrate has declined, and the market may face selling pressure.
GateNews3h ago
