Bitcoin Whales Keep Accumulating as Price Slips Below $87K
Bitcoin whales are accumulating large amounts of BTC as the price slips below $87K. According to CryptoRank, wallets holding between 100-1,000 BTC have added 113,950 BTC since July 15, growing their collective holdings by 2.22% to approximately 5.24 million BTC.
This wallet tier has been a reliable smart money signal in Santiment's five-year analysis, closely correlated with the crypto market direction. Accumulation from this group often appears before or during stronger price periods, and since mid-August, their holdings have been growing while Bitcoin prices climbed sharply.
The current price of $84,462 represents a 2% drop from recent highs, but the continued accumulation by whales highlights rising activity in the market. The immediate level to watch is $85K, with reclaiming it potentially opening the path higher for BTC. A weekly close above $83K would fully confirm the weekly market structure break and validate the recovery.
The next 48 hours around $83K, $85K will show whether this is a healthy consolidation or the start of a deeper reset. The rejection at the main resistance area has been expected, but how price behaves in the $83K, $84K range will be crucial for determining the future direction of BTC.