According to on-chain data agency Santiment, Bitcoin addresses holding more than 1,000 BTC have significantly increased their holdings recently, with their combined holdings now reaching 7.17 million BTC, the highest level since March 14. This change occurred after Bitcoin's earlier correction, indicating that large holders have renewed their positions during a period of price weakness.
Whale holdings rise to 7.17 million tokens
According to Santiment, there are currently 2,044 addresses that meet the "whale" criteria. These addresses collectively control approximately 36% of the circulating Bitcoin supply.
The article states that this data erases the decline of the previous months. For some time prior, large addresses had been continuously reducing their holdings, with some positions shifting to smaller holders. The current rebound in holdings indicates a stronger willingness among large funds to allocate assets.
- Criteria for whale addresses: Holding more than 1000 BTC
- Current number of whale addresses: 2044
- Total holdings: 7.17 million BTC
Increased holdings during the pullback
The article mentions that Bitcoin had previously fallen back to around $60,000, with spot prices facing pressure in the low $60,000 range. While market sentiment weakened, holdings at large addresses increased.
As described in the text, retail funds became more cautious during the pullback, while large holders chose to increase their spot exposure during periods of weak liquidity. This caused a significant rebound in the whale holdings curve during price consolidation.
The future direction will depend on the funding environment.
Such large-scale buying during weeks of pullbacks is usually seen as a bullish signal by the market, as it suggests that the circulating shares may be further concentrated in the hands of long-term holders.
However, the article also notes that whether this signal can translate into a stronger trend depends on the broader macroeconomic environment and whether spot ETF funds recover. Based on current data, whales reabsorbing supply has become a significant phenomenon in recent changes to Bitcoin's on-chain structure.
