Featured News Headlines
Bitcoin Sharks Lead Accumulation While OG Whales Drive Sell-Off
Bitcoin (BTC) has retreated roughly 30% from its all-time high of $126,200, currently trading just above $85,000. This decline has raised concerns of a deeper pullback toward the $70,000 region, yet onchain data reveals that institutional investors and high-net-worth individuals are actively accumulating BTC.
Sharks Lead the Accumulation Trend
Data from Glassnode shows that mid-sized Bitcoin holders, or “sharks” holding between 100 and 1,000 BTC, increased their collective holdings from 3.521 million BTC to 3.575 million BTC over the past week, absorbing approximately 54,000 BTC from smaller holders.
This represents the fastest pace of shark accumulation since 2012, suggesting strong bullish conviction among wealthier investors and institutional players despite the 30% pullback. Historical parallels reinforce this trend: in 2012, a similar surge in accumulation preceded a major rally, where BTC rose from around $10 to above $100 within a year, marking a 900% gain. A comparable fractal occurred in 2011, highlighting that aggressive accumulation by mid-sized holders can set the stage for future upside.
Whales Continue to Cap BTC Gains
Despite the surge in shark buying, long-term holders and OG whales with over 10,000 BTC have been driving the recent sell-off, keeping near-term downside risks elevated. Capriole Investments founder Charles Edwards noted that while institutional buying on Coinbase has reached unprecedented levels (Z-score 15.7), it is being counterbalanced by historic selling from long-term holders (Hodler Growth Rate at the 0.6th percentile).
This imbalance suggests that price appreciation may remain capped until older coins stop flooding the market.
Potential Downside Risk Remains Significant
Adding to bearish sentiment, veteran trader Peter Brandt highlighted Bitcoin’s recent breakdown below its parabolic support, a pattern that historically preceded declines of up to 80%. If the fractal repeats, BTC could potentially fall as low as $25,000, underscoring the risks in the near-term market structure.
While accumulation trends among sharks point to long-term bullish potential, heavy whale selling and technical breakdowns maintain significant pressure on Bitcoin prices.
