FameEX Hot Topics | Analysts: Bitcoin Whales on Pace for Most Active Week This Year

Bitcoin whale activity has exploded this week, coinciding with the steepest crypto market correction in months. On Wednesday, Santiment reported that more than 102,000 transactions worth over $100,000 and 29,000 exceeding $1 million have already been tracked—numbers that could make this the most active whale week of 2025. Bitcoin plunged below $90,000 for the first time since April, initially sparking fears that whales were driving the sell-off.

Yet the data tells a different story: the tone of whale behavior is rapidly flipping from distribution to accumulation. Santiment highlighted that large transactions are “gradually turning from dumping to accumulating again.” Glassnode confirms this shift, showing large holders have been net accumulating since late October, with a particularly sharp increase in wallets holding 1,000+ BTC starting last Friday.

Industry leaders are openly bullish about the ongoing dip-buying. Bradley Duke, Managing Director at Bitwise Asset Management Europe, posted on Wednesday that despite widespread fear and panic, “the number of BTC whales has spiked up of late.” He stressed that seasoned investors are calmly purchasing discounted Bitcoin from sellers gripped by panic, urging the community to “stay strong.”

Lingering forced selling appears to be the final headwind. Tushar Jain, co-founder of Multicoin Capital, observed systematic selling during specific hours—likely fallout from recent 10/10 liquidation events—but noted that “it’s hard to imagine this scale of forced selling continues for much longer.” Adding to the optimistic outlook, BitMine chairman Tom Lee and Bitwise CIO Matt Hougan stated on Monday that Bitcoin may already be forming a bottom this week. With whale accumulation now dominating and forced liquidation pressure potentially nearing exhaustion, analysts see the stage set for a strong reversal in the days ahead.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.