Bitcoin whales strike again – big investors are accumulating massively

Bitcoin whales strike again – big investors are accumulating massively

While Bitcoin has come under pressure in recent weeks, a remarkable development is emerging: the largest market participants are returning and accumulating massively.

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The timing is particularly noteworthy: While the Bitcoin price came under considerable selling pressure in several waves, major investors apparently specifically took advantage of the weakness for strategic purchases. According to data from Crypto Briefing, Bitcoin whales accumulated 45,000 BTC in the second week of November alone – the second largest weekly buying wave of the year. These massive inflows show that institutional and high net worth investors are viewing current price levels as a buying opportunity, while smaller investors often sold off their holdings.

The increase in whale activity continues a trend that has been developing over the past six weeks. Initially, an environment dominated by hedging and sales of the large wallets. However, recent patterns are increasingly pointing to a shift: defensive behavior is gradually turning into active collection of Bitcoin holdings again.

Accumulation data shows clear trend reversal

The structural changes in market behavior are underpinned by precise on-chain metrics. As a report from CoinDesk Germany shows, the number of wallets holding at least 1,000 BTC rose to 1,436 last week – a significant increase from October, when this number was around 1,300. This represents a clear reversal from most of 2025, which was characterized by consistent net sales from larger holders.

Glassnode’s so-called Accumulation Trend Score, which analyzes the behavior of different wallet cohorts, provides further meaningful information. For the first time since August, whales holding more than 10,000 BTC are no longer strong sellers. Institutions with holdings between 1,000 and 10,000 Bitcoin are now showing moderate accumulation. The strongest buying activity can be found both among holders with 100 to 1,000 BTC and, surprisingly, among small wallets with less than 1 Bitcoin.

In parallel, the market is experiencing one of the most pronounced short-term holder capitulation phases of this cycle. As analysis by CryptoQuant shows, STH-SOPR has fallen to around 0.97 and has remained below the critical 1.0 mark for weeks – a level historically typical of the late stages of panic-driven selling. Additionally, more than 65,200 BTC were transferred to exchanges at a loss, confirming the increasing fear among short-term investors. This combination of realized losses by small investors and simultaneous accumulation by large investors is often seen as an indicator of an impending bottom formation.

Decline in stock exchange stocks observable

Accompanying the increased buying activity, it can be seen that many of the coins purchased are being withdrawn from the trading venues. Instead of leaving stocks on the exchanges for short-term trading, large investors are increasingly moving them to private wallets or cold storage solutions. This suggests that these market participants want to hold their positions for the time being and are not speculating on an immediate resale.

This trend is reflected in the current data from Glassnode, which shows declining reserves on central exchanges. Such a thinning of available supply does not necessarily lead to immediate price increases, but it does reduce liquidity on the selling side. In the current market phase, this withdrawal of coins could at least act as a stabilizing factor and alleviate the selling pressure somewhat.

D. Maier / editorial team finanzen.net