Bitcoin Whales With 10K BTC Holdings Increase — Supply Squeeze Incoming?

Published 26/03/2025, 20:45
Updated 27/03/2025, 00:15
© Reuters.  Bitcoin Whales With 10K BTC Holdings Increase — Supply Squeeze Incoming?

U.Today - The number of Bitcoin (BTC) whale wallets holding at least 10,000 BTC has been steadily increasing according to leading on-chain analytics provider Glassdoor.

The growing increase in the rate of Bitcoin (BTC) accumulation by whales signals amplified conviction in the largest cryptocurrency even as the broader crypto market faces prolonged drawdowns and uncertainties in 2025.

This trend could also indicate that major investors and market participants are positioning themselves for a future Bitcoin rally, possibly anticipating favourable macroeconomic conditions and other upcoming catalysts.

Supply shock on the horizon?Santiment reported that BTC whales and sharks have undergone several major transformations over the past half-year. They started accumulating large amounts of Bitcoin, then paused their accumulation, finally dumping it. The most recent sales took place between the middle of February and March.

As March kicked off, these whales with a minimum of 10 BTC in their wallets have begun buying Bitcoin again and have accumulated 5,000 BTC already. This amount of the leading cryptocurrency is valued at $408,010,750 at press time. So far, the Bitcoin price has not reacted to this massive accumulation.

However, the Santiment team believes that the situation may change in the second half of March and play out “much better than the bloodbath we’ve seen since Bitcoin’s ATH 7 weeks ago.” That is if these large whales continue to buy Bitcoin, the tweet stated.

Institutions continue to increase Bitcoin holdings

Over the past three days, Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has tweeted that he believes a large Bitcoin decline is likely this year.

On Friday, McGlone tweeted that due to rigid U.S. external economic policy, the stock market is plunging and Bitcoin is mirroring it closely. McGlone said the only asset benefiting from the current situation is gold, which is a traditional safe-haven asset.

The market mostly treats Bitcoin as a risk-on asset. The expert also likened Bitcoin to the Nasdaq 100 peak in the early 2000s, when it reached an all-time high of 5,000 points at the peak of the dot-com bubble and then crashed by 80%.

McGlone expressed an opinion that Bitcoin is likely to face the same fate this year and crash after reaching a peak of $100,000. He did not specify whether this crash is happening already or he expects this scenario to play out later this year.

Earlier today, McGlone predicted that Bitcoin may potentially crash to $70,000 this year.

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.