Bitcoin is experiencing a strong upswing in buying activity from both retail investors and large holders, mirroring trends last seen around the 2024 U.S. election.
Currently trading near $117,943, Bitcoin accumulation is being driven primarily by “whale” wallets — those holding at least 1,000 BTC. Data from Glassnode shows the number of these whale entities rose from 1,392 to 1,417 in the past week, reaching one of the highest levels recorded this year. This suggests renewed confidence among institutional and major investors.
Glassnode groups multiple addresses controlled by the same user or organization into a single entity for clearer insights.
Moreover, the on-chain Accumulation Trend Score indicates that small investors, known as “shrimps” with less than 1 BTC, are also actively buying. This simultaneous buying across investor types is unusual and points to broad market optimism.
The score measures accumulation strength over 15 days, with values near 1 indicating strong buying and values near 0 showing distribution. To ensure accuracy, exchange and miner wallets are excluded from the metric.
Such widespread and sustained accumulation hasn’t been seen since November 2024, during President Trump’s re-election, which coincided with a surge pushing Bitcoin past $100,000.
With growing demand from both retail and institutional holders, many experts anticipate Bitcoin is well-positioned to test and possibly break its previous all-time highs soon.
