$63 Billion in Bitcoin Accumulated by New Whales Amid Price Pullback
Bitcoin's price decreased by 5.8% from its all-time high, currently trading at $105,062, a 1.1% drop in the past day.
On-chain data reveals increased activity among large investors, particularly new Bitcoin whales (wallets holding over 1,000 BTC with coins aged less than six months). This group has accumulated over 1.1 million BTC, a value increase of approximately $63 billion since March 2025.
Young Whale Holdings Surge as Supply Share Tightens
- New whales' share of Bitcoin's circulating supply rose from 2.5% to 5.6%.
- This accumulation removed an amount equivalent to nearly ten months of mining output from circulation.
- The trend indicates long-term positioning and active supply absorption, often preceding price volatility.
- Continued withdrawal without distribution may signal impending price compression followed by upward volatility.
Technical Patterns Suggest Possible Breakout Levels
Technically, Bitcoin appears to be forming a bullish pattern. It has broken out of a right-angled descending broadening wedge, which could indicate a trend reversal or continuation.
- If Bitcoin holds above the breakout zone, a target of $135,000 is possible by 2025.
- This aligns with expectations of upcoming macroeconomic catalysts.
