Over 60 New Whale Wallets Emerge Amid Market Dip
Bitcoin whales—entities holding more than 1,000 BTC—have resumed aggressive accumulation in March and April, signaling renewed confidence among large investors despite recent market turbulence.
According to Glassnode data, the number of whale wallets has climbed from 2,037 in late February to 2,107 as of April 15, marking a four-month high and adding more than 60 new addresses. The last time this metric saw similar spikes was during the November and December 2024 rallies, which followed the re-election of President Donald Trump.
The current level reflects a broader trend of institutional re-entry and long-term accumulation, even as prices fluctuated and retail sentiment wavered.
Whale Behavior Signals Long-Term Conviction
The trend isn’t limited to the largest holders. Addresses with over 100 BTC have also grown modestly in 2025, reaching 18,026 on April 20, while smaller wallets holding under 10 BTC have shown a gradual decline—possibly due to profit-taking or market fatigue among retail investors.
“Whales are accumulating massive amounts of Bitcoin—they know what comes next,” said pseudonymous Bitcoin trader Mister Crypto on April 20.
Whales are accumulating massive amounts of Bitcoin.
They know what comes next. pic.twitter.com/wDIaBapOoZ
— Mister Crypto (@misterrcrypto) April 20, 2025
This comment echoes a Cointelegraph report from April 18, which noted that whales were absorbing BTC at a rate over 300% higher than the current annual issuance, even as exchange balances continued to fall—a clear sign of long-term conviction and self-custody preference.
Bitcoin Breaks Out of Sideways Channel
Following weeks of consolidation, Bitcoin’s price broke out of a sideways range that began in early March. On April 21, BTC surged over $3,000 in a single day to reclaim $87,400—a price not seen since March 28.
Market analysts point to a multimonth falling wedge pattern now being broken to the upside, a classic bullish reversal signal that could position Bitcoin for a potential push back toward six-figure territory by May—assuming continued macro and technical momentum.
Final Thoughts: Whales Lead the Charge Into Q2
While retail investors may still be treading cautiously, Bitcoin whales appear to be doubling down on their conviction. The growing number of large wallets, combined with falling exchange balances and renewed technical strength, offers a strong bullish backdrop as the market heads into the second quarter of 2025.
Whether this accumulation cycle results in new all-time highs will depend on broader macro conditions, ETF inflows, and the next wave of institutional participation—but for now, the whales are sending a clear message: they’re stacking in size and preparing for what they believe comes next.
