Bitcoin Whales Return to Accumulation as Price Climbs Above $90K
Large bitcoin holders are back in the market after months of selling, signaling renewed confidence at key support levels.
Throughout 2025, particularly since August, whales and early BTC holders had been net sellers, taking advantage of prices above $100,000. The trend shifted following a 35% drop from October highs, with bitcoin bottoming near $80,000 and rebounding past $90,000.
Glassnode’s Accumulation Trend Score shows that holders of 10,000 BTC or more have switched to net accumulation over the past week, registering a strong score of 0.8. The 1,000–10,000 BTC cohort also turned positive for the first time since September.
Smaller holders have been actively buying as well. The 100–1,000 BTC cohort has been in aggressive accumulation since October, while retail holders with under 1 BTC are posting their strongest buying activity since July.
The Accumulation Trend Score measures net buying strength by wallet size over the prior 15 days, excluding exchanges and miners. Scores near 1 indicate accumulation, while values near 0 signal distribution.
The data points to growing confidence in the $80,000 range as a fair value zone. May’s support levels, including the $82,000 cost basis for U.S. spot bitcoin ETFs, reinforce that buyers see this price area as a key entry point.
