Bitcoin Whales Net Accumulated 43,000 BTC in 60 Days as Sell-Off Cycle Ends
Nashnova编辑部
On-chain data shows large Bitcoin holders net-bought roughly 43,000 BTC — about $2.75 billion — over the past 60 days, ending months of sustained selling; yet thin volume and macro uncertainty mean localized accumulation is not yet a full reversal.
How much did the whales actually buy?
CryptoQuant data shows large holders net-accumulated roughly 43,000 BTC over the past 60 days, worth approximately $2.75 billion at current prices.
The buying began when Bitcoin dipped to around $60,000. This means → whales entered at peak fear, not on the way up.
In plain terms = the richest cohort quietly scooped up the coins retail investors were dumping during the sell-off.
Is it only the whales buying?
Not just whales. Glassnode data shows mid-tier holders (100–1,000 BTC) and ultra-large holders (10,000+ BTC) have both accelerated purchases recently.
Glassnode analyst Sean Rose noted the data "reflects the directional trend of accumulation behavior, not simply net balance changes," and since late July the trend points to a broad restart of buying across all cohorts.
This reflects a telling signal: "smart money" at very different scales reached the same conclusion simultaneously — current prices are worth building positions.
Why hasn't the price recovered?
Bitcoin trades near $64,000, roughly 50% below its October peak.
August spot volume has fallen to the lowest since 2021 for the same period; crypto-themed ETFs continue to see outflows, and retail investors exited en masse during the prior decline.
Strategy — long one of the market's most prominent institutional buyers — recently flipped from buyer to seller. This means → the market lost one of its most reliable demand anchors.
Can whale buying trigger a reversal?
Nexo research analyst Dessislava Ianeva is blunt: whale buying in a low-volatility environment confirms structural accumulation, but it does not guarantee a broad bull run will follow.
She describes the current market as marked by "insufficient participation and lack of confidence," with overall sentiment weak.
In plain terms = big money is stacking coins, but for the whole market to turn, macro conditions have to cooperate first — between localized accumulation and a true trend reversal sits the gap called "macro variables."
Content is for reference only, not financial advice.