Key Insighst:
- Bitcoin whales have been steadily accumulating despite price fluctuations.
- Microstrategy continues its aggressive Bitcoin acquisition strategy, adding more coins.
- BTC’s apparent demand shows recovery signs, but analysts caution it’s not a shift.
Bitcoin (BTC) rose 0.9% in early trading on Monday, extending its weekly gains to 12.7%. It now trades just under $85,000, pushing its market cap above $1.68 trillion. Despite price consolidation, large holders continue to accumulate, signaling strong long-term conviction.
Market dominance remains high as BTC outperforms altcoins. Analysts have turned their attention to wallet activity and strategic corporate purchases as key indicators of market behavior.
Whale Accumulation Amid Price Fluctuations
Wallets holding between 1,000 and 10,000 BTC have shown a consistent accumulation trend since 2024. This behavior persisted during key Bitcoin price corrections, including the October 2024 drop to $60,000 and the April 2025 dip below $80,000.
During both periods, the total balance of BTC held by whales increased. The total rose to 3.375 million in October and reached 3.45 million in early April.
Analyst Miles Deutscher noted that whales began accumulating steadily in March. Their buying activity continued even as prices fell, contrasting with retail behavior that often involves selling during corrections.
Microstrategy’s Strategic Bitcoin Acquisition
An example of this accumulation trend can be seen with Microstrategy, the business intelligence firm that has rebranded as Strategy. According to a filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy acquired an additional 3,459 Bitcoin between April 7 and April 13.
The total cost of this acquisition amounted to $285.8 million, with an average price of $82,618 per Bitcoin, inclusive of fees and expenses.
Microstrategy’s consistent Bitcoin purchases align with the behavior of large holders in the market. Specifically, the company under Michael Saylor has been very clear on its agenda of the continued and further investment in Bitcoin. This new purchase only contributes to its increasing holdings in Bitcoin, and this is still proof of the company’s faith in Bitcoin despite the fluctuations it has experienced.
Market Demand for Bitcoin Active Again
As for the demand for Bitcoin, data from CryptoQuant has recently pointed out to some modest increase. CryptoQuant notes that Bitcoin’s apparent demand has varied significantly by swinging from deeply negative thirty-day sums to positive territory. However, analysts opine that interpreting this as the beginning of a new bullish phase might be premature.
In 2021 such demand pattern was observed during the market top, where market demand remained negative or near to the zero for a long time. Despite some short-term price stabilization and bounces, the true structural recovery did not occur until later after prolonged consolidation.
According to CryptoQuant, while the recent demand bounce is noteworthy, it is more likely a temporary pause in the pressure rather than a definitive signal of a market bottom or accumulation phase. Time and further confirmation are required to assess whether this shift will lead to a sustained uptrend.
Ownership Trends Suggest Long-Term Confidence
Further data from IntoTheBlock sheds light on Bitcoin ownership trends over time, offering a closer look at the behavior of different groups within the market. The data reveals that Bitcoin holders with longer-term horizons, labeled “Hodlers” (1+ year), have been increasing their ownership. Since the beginning of the year, the percentage of ownership held by Hodlers has risen by 1.61%.
In contrast, those in the “Cruisers” (1-12 months) category have reduced their holdings by 1.85%, and “Traders” (those holding less than 1 Bitcoin) have seen a 9.82% decrease in ownership. These shifts suggest that more long-term investors are adding to their positions, while shorter-term traders may be reducing exposure.
Disclaimer
This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.
