Whales Drive Bitcoin Toward $98K as Retail Sells Off
On-chain data shows large holders (10–10,000 BTC wallets) have accumulated heavily since mid‑December, adding roughly 56,227 BTC overall and 32,693 BTC since January 10. This “smart money” accumulation coincided with Bitcoin climbing to about $97.8K. By contrast, retail wallets (<0.01 BTC) reduced holdings by about 149 BTC (-0.30%), indicating profit-taking and risk aversion among small holders. Analysts view the divergence — sustained whale accumulation while retail sells — as a bullish signal driven by institutional or large-holder confidence rather than retail speculation. Traders should note the concentration of buying power, potential continued upward pressure on BTC, and the possibility of short-term volatility as retail take profits. Key metrics: ~56,227 BTC accumulated by large holders since Dec 17; ~32,693 BTC added by whales/sharks since Jan 10; retail wallets sold ~149 BTC. Primary keywords: Bitcoin, whales, accumulation, retail sell-off, on-chain data.
Bullish
The article describes sustained accumulation by large wallets (whales/sharks) alongside retail sell-off. Historically, concentrated buying from large holders signals confidence and can underpin price rallies because whales control significant supply and can absorb retail selling. The reported figures — ~56,227 BTC accumulated since Dec 17 and ~32,693 BTC since Jan 10 — are sizable and suggest a durable bid under price. Short-term impact: increased volatility is likely as retail profit-taking can trigger pullbacks, stops, or temporary liquidity gaps; traders should watch whale address activity and on-chain flow metrics for entry/exit cues. Medium-to-long term: if whales continue accumulation and do not quickly redistribute, supply pressure will remain limited, supporting higher prices (bullish). This pattern mirrors past cycles where institutional/whale accumulation preceded sustained rallies, while retail sold into strength. Risks remain (macro shocks, regulatory moves, liquidations), so traders should manage position sizing and monitor derivatives open interest and funding rates for signs of over-leveraging.