Bitcoin & Ethereum Whale Counts Climb Amid Accumulation
On-chain data from Santiment reveals that Bitcoin and Ethereum whale counts grew steadily in August, signaling renewed accumulation by large investors. Bitcoin whales — addresses holding over 1,000 BTC — increased by 13 since the start of the month, while Ethereum whales — over 10,000 ETH — jumped by 48. This uptick follows a July dip in Bitcoin whale numbers and highlights bullish sentiment among key stakeholders. Meanwhile, capital inflows into Bitcoin have fallen below $1 billion per day, contrasting with rising Ethereum inflows nearing parity. Bitcoin’s price has recovered to around $112,500 amid shifting investor preference from BTC to ETH. Whale counts and capital flow trends could serve as early indicators for market direction.
Bullish
The rise in Bitcoin and Ethereum whale counts—particularly after a July drop—indicates that major investors are returning to the market. Historically, growing whale populations have preceded price rallies as large holders accumulate during dips. The divergence in capital inflows, with BTC falling below $1 billion per day while ETH inflows climb, suggests a rotation of interest toward Ethereum, potentially leading to an ‘ETH flip’ in inflow leadership. In the short term, renewed whale buying and stronger ETH inflows could support further price gains and reduced volatility. Over the longer term, sustained accumulation by whales often underpins market confidence and can fuel extended upward trends, especially if retail and institutional capital follow these on-chain signals.