Bitcoin Whales Increase Holdings as Market Stabilizes

Large Bitcoin wallets are increasing holdings as the asset price stabilizes around $71,000, signaling potential bullish trends.

Market Sentiment Analysis

Large Bitcoin wallets are increasing their holdings as the asset’s price remains around $71,000, according to data from crypto sentiment platform Santiment. The company noted that a potential local bottom in Bitcoin could be forming if whales continue accumulating while retail investors’ share of holdings begins to decline.

Whales and Retail Investors

Santiment data shows that wallets holding between 10 and 10,000 Bitcoin now control 68.17% of Bitcoin’s total supply, up from 68.07% a week earlier. This accumulation by larger wallets is viewed as a bullish signal. Santiment emphasizes the importance of seeing a transfer of coins from weak hands to strong hands, with small wallets (retail) dropping and larger wallets rising.

Market Indicators

Bitcoin is currently trading at $71,350, up 6.30% over the past seven days. Over the past 30 days, Bitcoin has gained 7.55%. The Crypto Fear & Greed Index remains in “Extreme Fear” at 16, indicating investor caution. Just over a week ago, there was a different dynamic, with whales selling 66% of the Bitcoin they bought between February 23 and March 3, just as Bitcoin surged past $70,000 and briefly touched $74,000.

Market Bottom Uncertain

Despite the recent accumulation by large wallets, the market bottom remains uncertain. Santiment notes that historically, markets tend to bottom when the "crowd" loses hope, and the persistence of retail optimism is currently the biggest argument against a confirmed bottom. Additionally, Willy Woo, a Bitcoin onchain analyst, stated that Bitcoin is "solidly in the middle of its bear market through a lens of long-range liquidity."

ETFs and Market Sentiment

In a related development, US spot Bitcoin exchange-traded funds (ETFs) logged their first five-day inflow streak in 2026, bringing in roughly $767.32 million this week. This inflow suggests growing investor interest in Bitcoin through regulated financial products.

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