After months of sustained selling pressure, a trend reversal now appears to be emerging in the Bitcoin market. New data from Glassnode shows that so-called “whales” – large investors with at least 10,000 BTC in their wallets – are accumulating Bitcoin on a large scale for the first time in eight months.
Buying Interest on the Pullback to $80,000
Although the overall market remains under pressure and Bitcoin is currently trading more than 25% below its all-time high of $109,000, whales are showing increased activity around the current price level of approximately $80,000. According to Glassnode, this is the first significant accumulation since August 2024, when Bitcoin was trading in the $50,000 to $60,000 range.
These large investors are considered the “smart money” in the crypto market. They typically buy during sharp corrections and sell during periods of high market momentum. The current buying movement can therefore be interpreted as a strategic signal of long-term confidence.
Retail investors remain cautious
However, general market sentiment remains negative for the time being. Glassnode’s Accumulation Trend Score – an indicator that measures the behavior of various investor groups over a 15-day period – is currently at just 0.15. A value close to 0 indicates distribution (selling), while a value close to 1 indicates accumulation (buying).
This means that most smaller investors are continuing to reduce their positions. Despite the increasing whale activity, there is still no sign of broader confidence in the market.
What does this mean for the Bitcoin price?
Although the renewed interest of whales could be a positive signal for the medium to long term, the price continues to face pressure in the short term. As long as the selling pressure from the broader market persists, there is a risk that Bitcoin will fall further before a sustained recovery begins.
However, the whale behavior shows that not all investors are pessimistic. On the contrary – this group in particular apparently sees the current price dip as a strategic entry opportunity. And historically, such behavior has often been an early signal of an impending trend reversal.
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