Bitcoin (BTC) continues to trade below the psychological $90,000 level, with its price standing at $82,346. This marks a 24.3% drop from its all-time high above $109,000 recorded in January.
Despite this downward trend, new on-chain data suggests that a surge of high-net-worth investors, or “new whales,” has been accumulating BTC aggressively, which could have significant implications for the market’s trajectory.
According to CryptoQuant analyst onchained, a distinct group of Bitcoin holders with at least 1,000 BTC—acquired within the past six months—has been actively accumulating.
This trend, which started in November 2024, has accelerated significantly in recent weeks, with these new whales amassing over 1 million BTC in total and adding more than 200,000 BTC just this month alone.
New Whales Drive Market Accumulation
Onchained’s analysis highlights that this unprecedented accumulation trend indicates strong confidence in…
