Bitcoin whales are back in accumulation mode as the world’s largest cryptocurrency inches closer to the $80,000 milestone. On-chain data reveals a sharp spike in large wallet transactions, signaling renewed confidence among institutional investors and high-net-worth holders.
🐋 Whale Wallets on the Move
According to on-chain analytics platform Santiment, Bitcoin addresses holding over 1,000 BTC have collectively added more than 45,000 BTC over the past two weeks — the most significant accumulation phase since April 2024. This uptick coincides with a surge in BTC’s price momentum, which briefly touched $78,400 in early Friday trading.
Analysts say this wave of accumulation typically marks the start of new bullish cycles. “Whales are positioning early ahead of what could be the next major leg up,” noted Benjamin Cowen, a popular crypto market analyst. “The $80K resistance is psychological, not structural — once it’s broken, we could see price discovery toward $90,000 or even $100,000.”
📈 Institutional Flows Strengthen the Rally
Data from CoinShares shows over $380 million in weekly inflows into Bitcoin-based investment products, marking the strongest institutional demand since January. U.S.-listed Bitcoin ETFs such as BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) saw record volumes this week.
The renewed inflows suggest that traditional finance investors are re-entering the crypto market, fueled by optimism around potential interest rate cuts and a weakening U.S. dollar index (DXY).
“Macro conditions are aligning in Bitcoin’s favor,” said Maya Patel, senior strategist at CryptoQuant. “Whales typically lead market sentiment, and their recent activity implies strong conviction in BTC’s medium-term upside.”
🪙 Altcoin Market Reacts Positively
Altcoins followed Bitcoin’s lead, with Ethereum (ETH) rising above $3,200 and Solana (SOL) gaining 7% in 24 hours. Meme coins such as DOGE and PEPE also rallied amid broader market enthusiasm, suggesting that retail traders are returning to the market.
“The altcoin market tends to lag whale accumulation by a few weeks,” explained Glassnode researchers. “If this pattern holds, we could be entering a multi-month uptrend across major crypto assets.”
⚡ What’s Next for Bitcoin?
Bitcoin remains less than 3% away from its all-time high of $81,200, and traders are closely watching the $80K breakout zone. Derivatives data shows increasing long positions on major exchanges, suggesting traders are betting on a sustained move higher.
Market sentiment has shifted decisively bullish, according to the Crypto Fear & Greed Index, which now stands at 78 (Extreme Greed).
Still, analysts caution that short-term volatility is likely as traders take profits. “We may see a temporary pullback to the $74K–$76K range before continuation,” said Patel. “But overall, the structural trend remains bullish.”
