Whales Dominate BTC Accumulation as Retail Investors Stay on Sidelines
Bitcoin whales have been accumulating large amounts of Bitcoin in recent days, adding 41,025 BTC to their holdings over the past 10 days. According to Santiment, these whales now control 13.64 million BTC, which is equivalent to 67.93% of Bitcoin's total supply.
This accumulation by whales has historically been a sign that the market is due for stronger performance. In contrast, retail investors have remained largely flat, with wallets holding less than 0.01 BTC showing little movement.
Kevin Capital, a prominent analyst, believes that Bitcoin's recent technical breakout strengthens the case that its cycle low is already in. He estimates the probability of this at around 90% and expects future pullbacks to produce higher lows rather than a new cycle low.
If Bitcoin holds the current zone of $77,000 to $83,000, Kevin sees a move toward $93,500 to $100,000 before encountering stronger resistance. However, if it breaks lower, the next potential accumulation zone would be between $67,000 and $75,000.