As Bitcoin (BTC) pushes past the psychologically important $100,000 milestone, on-chain data suggests that an increasing number of whales – wallets with significant BTC holdings – are accumulating the top cryptocurrency at a rapid pace.
In a CryptoQuant Quicktake post published today, contributor caueconomy noted a significant uptick in whale activity over the past 30 days. Specifically, Bitcoin whales – defined as wallet addresses holding between 1,000 and 10,000 BTC – have increased their total holdings by approximately 41,300 BTC during this period.
According to the analyst, this rise in BTC whale accumulation reflects growing institutional interest in the asset class. Despite ongoing global economic uncertainty and high risk aversion, large-scale investors appear to be doubling down on Bitcoin.
This constant interest in absorption by companies can generate uninterrupted and acyclical buying pressure, since these corporations use their own cash generation and debt issuance to buy. And as I have already mentioned in previous posts, this rise in bitcoin prices is not being driven by retail activity, but by institutional “passive” buying pressure.
