Bitcoin whales add 61,568 BTC as price slips under $70K
Bitcoin whales have added 61,568 BTC over the past month as BTC remains under pressure and trades below recent highs. Santiment data shows wallets holding 10–10,000 BTC increased their balances by 61,568 BTC, about a +0.45% rise, even while Bitcoin slipped toward the $68,100 area.
Retail demand is also present. Santiment reports wallets under 0.01 BTC added about +0.42% over the same period, suggesting smaller buyers are matching whale activity and helping delay breakout signals. However, Santiment says the current on-chain setup has not yet produced a clear breakout.
Price action remains weak. Bitcoin traded around $66,349 at the latest check, after an intraday high near $69,789 and a roughly 5% daily decline, keeping BTC well below the $72,000 level seen earlier in the week.
Additional selling pressure is linked to Bhutan-linked activity. Arkham Intelligence data cited in the report says the Royal Government of Bhutan moved 519.707 BTC (about $36.75m), pushing 2026 outflows above $150m.
Geopolitical risk is also weighing on sentiment. Reuters reported the Pentagon is considering deploying up to 10,000 additional US ground troops to the Middle East, increasing caution across risk assets, including crypto.
For traders: the Bitcoin whales’ accumulation may support dips, but near-term direction still hinges on whether geopolitical risk and Bhutan-linked flows continue to dominate.
Neutral
The article highlights a mixed signal. On one hand, Bitcoin whales added 61,568 BTC in the last month, and retail wallets under 0.01 BTC also kept buying. Historically, whale accumulation can reduce downside momentum and later support rebounds—similar to periods when large-wallet inflows coincided with retail stabilization (often the first step before trends resume).
On the other hand, price remains below key levels ($72K earlier in the week; latest around $66K). The report also links current weakness to Bhutan-linked BTC movements (519.707 BTC transferred; 2026 outflows above $150m) plus renewed Middle East troop-deployment risk. Such macro/geopolitical pressure has often outweighed on-chain accumulation in the short term, keeping volatility high and delaying breakouts.
Net effect: neutral. In the short term, traders may stay range-bound or risk-off because geopolitical headlines and large-wallet outflow narratives can trigger selling. In the long term, if Bitcoin whales accumulation persists while retail demand holds, it increases the probability of a constructive base and a later breakout—provided selling pressure does not intensify.