Bitcoin's $80K Buyers: A Tale of Two Wallets

Bitcoin's price dip below $90,000 has not deterred the largest holders of the cryptocurrency from buying. According to Glassnode data, wallets holding between 1,000 and 10,000 BTC have dominated buying since Bitcoin reached $80,000 in late November. This group maintains an Accumulation Trend Score near 1, indicating sustained buying.

Only this cohort shows a continued accumulation pattern at the current price level. In contrast, smaller holders with under 1,000 BTC are showing distribution patterns, with some selling despite Bitcoin trading below recent peaks.

The largest whales, holding more than 10,000 BTC, bought aggressively when Bitcoin traded near $80,000 in late November but have since slowed their purchases.