According to blockchain analytics firm Glassnode, Bitcoin whales—wallets holding over 10,000 BTC—have accumulated over 129,000 BTC, worth $11.2 billion, since March 11. This marks the highest accumulation rate since August 2024, suggesting strong belief in Bitcoin’s long-term potential.
The move comes even as technical signals and macroeconomic headwinds raise questions about the recent price surge. Bitcoin recently rebounded from a dip below $78,000, climbing back to $87,500 at the time of reporting.
Market Optimism Amid Mixed Signals
Bitcoin’s rebound is partly fuelled by dovish commentary from the Federal Reserve and market optimism around the upcoming Trump tariffs on April 2, which investors expect to be milder than previously feared.
Despite retail holders selling off, whale wallets are filling the gap—absorbing supply and signalling strong institutional conviction. Glassnode highlighted that this activity has offset ongoing selling pressure from smaller investors.
HODLing Trend Strengthens
Another key metric, the Bitcoin 1Y+ HOLD Wave (tracked by Bitbo Charts), has shown a fresh upswing. This indicates a growing number of investors are holding Bitcoin for over a year, reflecting a shift towards long-term strategies rather than short-term speculation.
As sentiment tilts more bullish among whales, market watchers are keeping a close eye on whether this accumulation trend will sustain Bitcoin’s momentum—or if macro factors will bring renewed volatility.
