FameEX Hot Topics | Bitcoin Sharks Hoard Aggressively When Price Drops 30%, Hitting 13-Year Accumulation Peak

Bitcoin's recent 30% decline from its all-time high of $126,200 has pushed the price just above the critical $85,000 support level, raising fears of a further slide toward $70,000. Despite the sharp drawdown, on-chain data reveals aggressive accumulation by mid-tier holders, echoing patterns that preceded historic bull runs.

Glassnode reports that Bitcoin "sharks"—entities holding 100 to 1,000 BTC—have added 54,000 BTC in the past week alone, increasing their collective holdings from 3.521 million to 3.575 million BTC. This represents the fastest weekly accumulation rate by sharks since 2012, signaling strong conviction among high-net-worth individuals and smaller institutions even as retail panic selling intensifies.

Historical precedents reinforce the bullish implications. In 2012, a similar surge in mid-sized holder accumulation preceded Bitcoin's explosive rally from around $10 to over $100 within a year—a staggering 900% gain. Likewise, aggressive shark buying in 2011 followed and supported a 350% surge from under $3 to above $14. Analysts note that repeating this fractal could set the stage for substantial upside from current levels.

However, countervailing pressures temper the optimism. Large whales holding over 10,000 BTC have been the primary sellers over the past two months, exerting significant downward pressure that has overwhelmed shark buying. Veteran chartist Peter Brandt has warned of a breakdown below Bitcoin's long-term parabolic curve, a pattern that historically triggered roughly 80% declines. Should this bearish fractal play out, Bitcoin could theoretically plummet toward $25,000. While shark accumulation offers a compelling bullish counter-narrative rooted in historical precedent, the ongoing whale distribution and technical breakdowns suggest the path to recovery remains contested.

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