On-chain data from Santiment indicates that large Bitcoin wallets are accumulating BTC, while smaller holders are reducing their positions, even as Bitcoin’s price continues to climb.
Bitcoin has sustained its upward momentum following a strong rally last week, briefly surpassing $105,000.
The crypto asset began its ascent in the final week of April, breaking through the $90,000 level and reclaiming key psychological thresholds above $100,000. As of today, Bitcoin is trading at $103,768.
However, beyond price action, wallet data reveals a divergence in behavior between large and small holders, pointing to a potential shift in market sentiment.
BTC Whales & Sharks Accumulate as Shrimp Drop
For instance, the market intelligence platform Santiment has tracked wallet activity showing contrasting trends in accumulation. Larger wallet addresses, specifically those holding between 10 and 10,000 BTC—labeled as Whales & Sharks—have significantly increased their holdings.
Over the past month, this group collectively added 83,105 BTC. This figure is particularly notable based on both volume and speed.
In contrast, smaller holders, referred to as Shrimp, which are wallets with 0.1 BTC or less, have sold off approximately 387 BTC during the same period. This selling behavior reflects profit-taking, largely among retail participants anticipating a potential short-term top.
Santiment’s broader analysis further notes that even wallet tiers slightly above the 0.1 BTC mark showed similar tendencies, signaling caution among smaller investors despite the overall market strength.
Bitcoin Price to $110,000?
However, with the continued aggressive accumulation from large wallets, Santiment suggests that a breach of Bitcoin’s $110,000 all-time high may be approaching. Recent macroeconomic developments further support this bullish outlook.
Notably, President Trump announced a reduction in tariffs on small shipments arriving in the U.S. from Hong Kong and mainland China. This move followed a bilateral agreement between the U.S. and China to temporarily lower tariffs for a 90-day period.
Holding Behavior Varies by Time Held
Additional insights from analytics firm IntoTheBlock confirm shifting behaviors based on how long Bitcoin holders retain their assets. Long-term holders, those keeping BTC for over a year, have recently shown a positive change of 1.24%. This suggests consistent accumulation by investor profiles often associated with whales.
Meanwhile, mid-term holders or cruisers have decreased by 2.84%, indicating active selling. These wallets typically represent those who held Bitcoin between one and twelve months.
Similarly, short-term holders, traders holding Bitcoin for less than one month, have declined slightly by 0.12%. This pattern reinforces the findings from Santiment, showing increased retail selloffs following recent price gains.
Exchange Flow Data Points to Investor Confidence
Further supporting these trends, IntoTheBlock reports continued net withdrawals of Bitcoin from exchanges. This pattern often signals investor preference to store assets securely rather than prepare them for sale.
Over the last 24 hours, exchanges saw a net outflow of 3,190 BTC. The 7-day outflow reached 1,380 BTC, while the 30-day period recorded 1,670 BTC in net withdrawals.
The consistent outflow trend aligns with accumulation patterns noted by Santiment and long-term holder behavior tracked by IntoTheBlock. Altogether, these signals point to ongoing strategic accumulation by large investors amid short-term selling from retail participants.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
